Written question asked by Laurence Robertson (Conservative) on Monday, 26 April 2021, in the House of Commons. It was due for an answer on Thursday, 29 April 2021 (named day). It was answered by Jesse Norman (Conservative) on Thursday, 29 April 2021 on behalf of the Treasury.

Horses: Customs and VAT

Question: To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of the removal of customs and VAT guarantees for the temporary admission of thoroughbreds to Great Britain for racing and breeding purposes; and if he will make a statement.

Answer: Under new rules introduced on 1 January 2021, most businesses no longer need to provide a guarantee if they are granted full authorisation from HMRC for the Temporary Admission procedure in Great Britain. This means that authorised importers of racehorses will generally not be required to provide upfront security for customs and VAT liabilities, and subject to the horses being re-exported as per the Temporary Admission rules, import duties would not become payable.

Secondary information