In these exceptionally difficult times, what help is there when you have a VAT bill to pay?
First of all, if your business needs time to pay for VAT (and PAYE and Corporate Tax also) then make use of the Government's dedicated helpline (0800 0159 559) for gt advice and try to agree a time to pay arrangement, spreading the payment over, for example, 6 months.
Deferral of VAT
In March 2020 HMRC announced that all VAT registered businesses in the UK could defer paying their VAT liabilities during the period 20 March 2020 to 30 June 2020. There is no need to speak to HMRC to arrange or agree this - it applies automatically.
What does this mean for my business
What happens if I am a large business on payments on account?
Is there anything else I should know?
Please get in touch if you need help.
MHA MacIntyre Hudson
Tel: 03330 100220