Receipts 2021 march8/6/2023 VAT is charged when a VAT-registered business sells to either another business or to a non-business customer. VAT population and taxable turnover Background Only traders who are continuing to pay Import VAT under the previous regime are contributing to Import VAT receipts as reported above. Payments made using PVA are recorded under Home VAT payments and not Import VAT. From 1 January 2021 this includes import VAT paid through PVA. Net Home VAT means VAT declared on VAT returns. Import VAT receipts were £12 billion (43%) lower for the financial year ending March 2022 compared to the previous year, which is mainly due to postponed VAT accounting (PVA) (since January 2021, traders have been able to include Import VAT on their regular VAT return) In financial year 2021 to 2022, Home VAT increased by £68 billion and Import VAT decreased by £12 billion Figure 1: Net Home VAT and Import VAT receipts for 2021-22 and the previous 10 financial years.Īll non-EU import VAT up to 31st December 2020 and non-postponed accounting import VAT from 1st January 2021įor the full dataset that accompanies Figure 1 go to Annual UK VAT Statistics 2021-22 Tables.įigure 1 demonstrates the following trends for Home VAT and Import VAT receipts: The Wholesale and Retail sector continued to be the largest contributor to net Home VAT liabilities.ħ5% of total net Home VAT declared was paid by traders with an annual turnover greater than £10 million. Further reductions in receipts across the April 2020 to March 2021 financial year can be attributed to economic impacts of the Covid-19 pandemic as well as the temporary reduced rate of 5% for hospitality, holiday accommodation and attractions. Receipts dropped significantly between March 2020 and June 2020 due to the VAT payment deferment policy. Total VAT receipts in the financial year ending March 2022 increased by 55% compared to the previous financial year. Join the VAT deferral new payment scheme by 30 June 2021 to make arrangements to pay deferred VAT in up to 11 equal instalments spread between March 2021 and March 2022 To help businesses manage cash flow during the COVID-19 pandemic, VAT traders were able to defer Home VAT payments due between 20 March 2020 and 30 June 2020. There has also been an upward revision in table 6b to the 2020 to 2021 Net Home VAT figure relating to sole proprietors (from £790 million to £1,570 million) to correct an error which was identified through improved production processes in this year’s publication however, the total figure for Net Home VAT provided in this table has not been affected.įor statistical questions, email Coronavirus (COVID-19) VAT deferrals The revised figure for the 2021 to 2022 Net VAT receipts has been incorporated in table 1 of this publication.įollowing improvements in the registrations and de-registrations data captured for the VAT traders population, there have been revisions in table 2 going back to January 2018. It also contains a historic series of annual and monthly VAT receipts and VAT registrations and de-registrations.Īs per the announcement made on 20 December 2022 at HMRC Statistics Announcements 2021 to 2022 Net VAT receipts have been revised upwards by £743 million (representing 0.5% of 2021 to 2022 Net VAT receipts). It includes Home VAT declared on traders’ returns classified by sector and trade group, VAT registrations, de-registrations and trader population. This official statistics publication provides information on VAT receipts, Home VAT and Import VAT.
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