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Duty Deferment Account (DDA)

A DDA is also known as a Duty Deferment Account.

A DDA is a credit account that a trader can open with HMRC, that allows for delayed payment of:
 
⦁ Customs Duty
⦁ Excise Duty
⦁ Import VAT
 
Whether clearing by full frontier declaration or taking advantage of simplified procedure, use of a DDA means that arrivals within a calendar month don't require any actual payment until the 15th of the following month.
 
This is not the only means of deferral for VAT, see Postponed VAT Accounting for more.
 
If you want to open a DDA, then click here for more information on our website. 
 
Watch Matt Jones, CFO of EORI (UK), explain more about Duty Deferment Accounts.