Coronavirus: VAT Deferral Update
Welcome news on Friday 20 March 2020 for all UK VAT registered businesses, who have been told that VAT payments due to HMRC during this period, will be deferred.
What we know
- The deferral period will apply from 20 March 2020 until 30 June 2020.
- All UK businesses are eligible and it automatically applies. There is no need to speak to HMRC to arrange or agree this.
- Any business that pays VAT by Direct Debit must cancel it, otherwise HMRC will collect VAT due as normal.
Read our fact sheet for more details on the scheme. For further information or advice on Coronavirus, visit our dedicated hub or call us on 01903 234094.