Support for businesses through deferring VAT
The Government have announced support for businesses by offering the deferring of Valued Added Tax (VAT) payments for 3 months, this will apply from 20 March 2020 until 30 June 2020. This is available for all UK businesses are eligible.
How to access the scheme?
This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal.
Customers who normally pay by direct debit should cancel their direct debit with their bank if they are unable to pay. Please do so in enough time so that HMRC do not attempt to automatically collect on receipt of your VAT return.
Our sister company Price Pearson are keeping fully up to date with all current government and local agency business support programmes and would be happy to speak to you if you require any assistance. To speak to a member of the team call your usual IceBlue support telephone number and we will put you in touch with them.
Last updated: 30 Mar 2020 9:16 AM