The CIOT has published a number of questions and answers for duty deferment account holders who are facing severe financial difficulties as a result of Covid-19 and are unable to make payment of deferred customs duty and import VAT due on 15 May. The FAQs cover how duty deferment users can request a payment extension, whether duty deferment users can continue to use their duty deferment accounts while payment remains outstanding, whether HMRC will charge interest on outstanding payments, and in very general terms how HMRC will assess genuine financial difficulty as a result of Covid-19.
The CIOT has published a number of questions and answers for duty deferment account holders who are facing severe financial difficulties as a result of Covid-19 and are unable to make payment of deferred customs duty and import VAT due on 15 May. The FAQs cover how duty deferment users can request a payment extension, whether duty deferment users can continue to use their duty deferment accounts while payment remains outstanding, whether HMRC will charge interest on outstanding payments, and in very general terms how HMRC will assess genuine financial difficulty as a result of Covid-19.
