Search News


JC Accounts Ltd
The Loft
Hill End Farm
Langley, Herts
SG4 7PT
01462 477 918
This email address is being protected from spambots. You need JavaScript enabled to view it.

News

Source: HM Revenue & Customs | | 31/03/2020

In another move to help businesses the government announced that VAT registered businesses can defer any VAT payments due between 20 March 2020 and 30 June 2020. There is no application process required to defer the relevant payment. However, businesses can still choose to pay any VAT due as normal. 

It is important to note that this is only a deferral and whilst no interest or penalties will be due on deferred payments, the full amount of VAT due will still need to be paid. If you choose to defer your VAT payment as a result of Coronavirus then you must pay the VAT due to HMRC on or before 31 March 2021.

If you are planning to make use of the deferral offer, and you pay by direct debit, then you should cancel your direct debit. You can cancel your direct debit online using online banking or contact your bank if necessary. Please make sure that you do this as soon as possible to ensure that HMRC do not automatically collect the VAT due. You should also keep a note to re-establish the direct debit when your next VAT payment is due (if no further deferrals are announced). 

HMRC has said that they will continue to process VAT reclaims and refunds as normal during this time.



Latest News

Additional funding for charities and social enterprise
26/05/2020 - More...
The government's dormant assets scheme allows money in accounts that have been dormant for at least 15 years to be

Further support for charities from VAT receipts
26/05/2020 - More...
It has been revealed by HM Treasury that the VAT collected on donated personal protective equipment (PPE) will be given

Apply for NIC Childcare Credits
26/05/2020 - More...
National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the Newsletter
» Login