Updated: Mar 4
The VAT input amounts form C79 is a document that shows the total amount of VAT that a registered business has paid on its purchases during a particular VAT period. This document is issued by HM Revenue and Customs (HMRC) to businesses that submit their VAT returns online. Form C79 lists all the VAT invoices that the business has claimed input tax for during the VAT period.
Forms C79 are issued by HMRC. They not only affirm the input VAT amounts but also connect them to your business. HMRC issues the C79 with a reference to the EORI number that you need to have supplied to your shipping agent. This document confirms VAT paid as “Input VAT” and must be retained with the relevant purchase invoices.
Import VAT Certificate
Form C79 also known as an Import VAT Certificate (C79) in the United Kingdom is a document issued by HM Revenue & Customs (HMRC) that shows the amount of Value Added Tax (VAT) paid on goods imported into the country. It is used to provide evidence of the payment of VAT, which is necessary for reclaiming the tax. The C79 certificate (also known as the "import VAT certificate") is typically issued to the importer and serves as proof of the VAT paid on the imported goods. It is important to note that import VAT must be paid on most goods imported into the UK, regardless of whether the business is VAT registered or not.
As a business owner in the United Kingdom, it is important to be aware of the various taxes that apply to your operations. One such tax is Value Added Tax (VAT), which must be paid on most goods imported into the country. To provide evidence of the payment of VAT, an import VAT certificate (C79) is issued by HM Revenue & Customs (HMRC).
Why Do You Need An Import VAT Certificate (C79)?
Import VAT must be paid on most goods imported into the UK, regardless of whether the business is VAT registered or not. The C79 certificate acts as proof of the payment of VAT and is required for reclaiming the tax. It is an important document that must be kept on file by the importer as evidence of the VAT paid on the imported goods.
What Can Happen If You Don't Submit Import VAT Certificates (C79)
If an import VAT certificate (C79) is not submitted in the United Kingdom, it can result in various consequences for the business. Here are some of the potential consequences:
Penalties and Interest Charges: If VAT is not paid on imported goods in a timely manner, HM Revenue & Customs (HMRC) may impose penalties and interest charges on the outstanding tax amount.
Reputational Damage: Failing to submit an import VAT certificate can also damage a business's reputation, as it may be seen as failing to comply with tax laws.
Audit and Investigation: If HMRC suspects that VAT has not been paid on imported goods, it may conduct an audit or investigation to determine the accuracy of the VAT returns.
Legal Action: In severe cases, HMRC may take legal action against a business for failing to submit an import VAT certificate and pay the VAT owed on imported goods.
Therefore, it is essential for businesses to submit import VAT certificates (C79) and pay the VAT owed on imported goods in a timely manner to avoid these potential consequences.
How to Obtain an Import VAT Certificate (C79)?
The C79 certificate is issued by HMRC and is typically provided to the importer when the VAT on the imported goods has been paid. It is important to ensure that the VAT is paid in a timely manner to avoid any penalties or additional charges.
Who Issues VAT Certificate (C79) From HMRC
The VAT certificate (C79 certificate) is issued by HMRC (Her Majesty's Revenue and Customs) in the UK. The certificate shows the amount of VAT that a business has been charged on its purchases and imports and the amount of VAT that it has paid to HMRC on its sales.
HMRC issues the C79 certificate to businesses on a regular basis, usually every month or every quarter, depending on the business's VAT reporting period. The certificate is sent to the business's registered address or can be accessed through the business's online HMRC account.
How to get a copy of the VAT Certificate (C79) from HMRC
To get a copy of your VAT certificate (also known as a C79 certificate) from HMRC in the UK, you can follow these steps:
Log in to your HMRC online account or register for one if you do not already have an account. You will need to provide your VAT registration number and other personal information to set up an account.
Once you are logged in, select the "VAT" option from the list of available services.
Under the "VAT" section, you will see a link for "View your VAT certificate (C79)". Click on this link to view your certificate.
If you need to print a copy of your certificate, you can do so by clicking on the "Print" button on the screen. You can also download a copy of the certificate in PDF format.
If you are unable to access your certificate through your HMRC online account, you can contact the VAT Helpline on 0300 200 3700 (Monday to Friday, 8am to 6pm) to request a copy. You will need to provide your VAT registration number and other personal information to verify your identity.
It is important to keep your VAT certificate safe and secure, as it contains important information about your VAT registration and transactions.
Economic Operator Registration and Identification (EORI) Number
Delays will arise in which the commercial enterprise has no longer correctly quoted its EORI range to its agent. This will save you a C79 being issued successfully which might also in flip, postpone the restoration of that input VAT. Where corporations rely on the marketer's invoice figures on which to recover the VAT, they could mistakenly consist of responsibility amounts as enter VAT on their VAT returns. This will result in compliance errors, as responsibility can by no means be recovered on a VAT go-back, and the input VAT can handiest be claimed when supported via a C79. Where C79 Forms have been lost, it's miles possible to attain duplicates, however, this also delays recovery of the VAT paid from HMRC.
The import VAT certificate (C79) is an important document for businesses importing goods into the UK. It provides evidence of the payment of VAT and is necessary for reclaiming the tax. It is important to keep the C79 certificate on file and to ensure that the VAT on imported goods is paid in a timely manner. By understanding the importance of the C79 certificate, businesses can better manage their VAT obligations and stay compliant with UK tax laws.