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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 10247
Experience:  FCCA FCMA CGMA ACIS
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I have received a Right to be Heard from HMRC of which they

Customer Question

I have received a Right to be Heard from HMRC of which they claim around £10K is for Customs Entry and around £40K is for Import Vat. My question is if I go ahead and pay this, will I be able to claim the import VAT Bback?
JA: Have you talked to a tax professional about this?
Customer: not yet
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: no
Submitted: 12 days ago.
Category: Tax
Customer: replied 12 days ago.
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Customer: replied 12 days ago.
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Expert:  bigduckontax replied 12 days ago.

Assuming that your business is registered for VAT then this input tax is reclaimable in the usual way on your quarterly return. The Import Duty forms part of your Cost of Sales.

Customer: replied 12 days ago.
Hey Bigduck, many thanks Yes we are VAT registered. Yeah I was thinking life yourself, the only reason I wanted to ask this in here was just to confirm because one other accountant previously told me that: No you cant claim and the reason he gave me was that: you cant claim because they are punishing you in reality so it is like fine you cannot claim it otherwise everyone will put their imports less and only pay their true costs when getting 'caught' which really really made me have doubts. Should I show you the letter they sent me so you can maybe 100% confirm perhaps? Or are you 100% positive about this anyway?Many thx
Expert:  bigduckontax replied 12 days ago.

Delighted to have been of assistance. I suggest that you take that advice with a very large pinch of salt!