Currently the value of your postponed imports is included in your businesses Flat Rate Scheme turnover calculation, and therefore subject to the flat rate percentage.
From 1 June 2022 these imports should be dealt with outside of the Flat Rate Scheme and you should exclude them from your Flat Rate turnover. You will still need to complete a Flat Rate Scheme calculation and also record the VAT due on any imports you have made. The value of import VAT should be included in box 1 on your VAT return, following the application of the Flat Rate percentage.
In February 2022 HMRC published the Revenue and Customs Brief 3 (2022): postponed VAT accounting and businesses registered under the Flat Rate Scheme. You should read the brief if:
For more information on how to account for import VAT on your VAT return visit GOV.UK
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