questionText: To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 May 2025 to Question 51908, whether she has made an estimate of (a) the cash-flow to the Exchequer of withdrawing postponed VAT accounting for imports, including the interest foregone on deferred VAT liabilities, and (b) the potential reduction in import VAT fraud and the tax gap from requiring payment of import VAT using the same facilities as apply to customs duties.
answerText: Postponed VAT accounting provides significant support for businesses, helping to manage cash flow and facilitate imports. HMRC undertakes regular operational work to ensure compliance with the rules around postponed VAT accounting. The VAT gap has reduced...
heading: Imports: VAT