Claiming overpaid VAT on the importation of dental prostheses

In the 2021 autumn Budget the government announced that the import of dental prostheses would be exempt from VAT if the prostheses are imported on behalf of or by registered dentists and dental care professionals.

Following royal assent on 24 February importers who fell within that description can now retrospectively reclaim overpaid VAT from 1 January 2021.

HMRC has published guidance on how businesses can claim a repayment of any overpaid import VAT on imports made between 1 January 2021 and 27 October 2021.

Those who used postponed VAT accounting will need to reduce the value of any claims by the amount of import VAT previously reclaimed as input tax. If amendments do not exceed £10 000 or are between £10 000 and £50 000 and less than 1% of the outputs (box 6) on the current return they should make the correction on the...