Defer your VAT and Income Tax for 3 months – No questions asked

VAT

All UK businesses can now defer their VAT payments for 3 months. This applies between 20 March 2020 and 30 June 2020.

There is no need to apply, fill in a form or otherwise. Just take it.

You will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period.

INCOME TAX

Income tax self assessment payments due on 31 July 2020 will be deferred until 31 January 2021.

There will be no penalties or interest charged for late payment.

There is no need to apply fill in a form or otherwise. Just take it.

CAUTION

Whilst these are essential to help everyone at this time, this may not be enough. Click here for details of more support.

Don’t store up your problems. This is only a temporary reprieve and you will need to work hard to get things back on track and make sure you can make the relevant payments.

If you can’t get back on track, don’t leave it too late. Keep in contact with HMRC or seek further advice if needed.

More on the support available for Covid 19 can be found here

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