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Knowledge

Postponed VAT Accounting (PVA) in UK

Postponed VAT Accounting (PVA) is a tax measure that enables UK businesses to defer payment of import VAT when importing goods into the UK. Instead of paying import VAT upfront at the time of import, businesses can account for the VAT on their VAT return.

Introduction to UK Corporation Tax

When a company trades as a limited company, the company will pay corporation tax based on the level of profits it makes. Corporation tax is the tax that UK companies pay on their taxable profits not the profit reported on the financial statements.