In response to the Coronavirus pandemic, HMRC have announced the option for businesses to defer VAT payments due between 20 March 2020 and 30 June 2020 and as such, VAT due to HMRC from that period will now be due on or before the 31st March 2021.
VAT registered businesses will not need to notify HMRC of their intention to defer the relevant payments although VAT returns will still need to be submitted on time.
Please note that any direct debits will need to be cancelled by the taxpayer to ensure the payment is not made to HMRC automatically. Currently, this deferral would mean that July payments resulting from a May return would still be due in the normal way. Further time to pay can be sought for businesses who need greater financial assistance though this is not automatic and must be agreed with HMRC.
Additionally, this deferral does not apply to VATMOSS payments and these must be made in the usual manner.
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