HM Revenue & Customs has sent guidance to your Institute with regards to using Postponed VAT Accounting (PVA). 

Accounting for import VAT on your VAT return (also called Postponed VAT Accounting) means you’ll account for and recover import VAT on the same VAT return, rather than having to pay it upfront and recover it later.

This guidance explains the steps that you can take to make sure you benefit when you’re importing goods into Great Britain or Northern Ireland, from any country. 

It outlines: 

1. About PVA 
2. How to tell HMRC that you want to use PVA 
3. How to complete your VAT return when using PVA 
4. How to get the statement that you will need to complete your VAT return 
5. Where to find help and support