24 Mar Coronavirus VAT Payment Deferral
The Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months.
The deferral will apply for payments dates falling between 20 March 2020 to 30 June 2020.
All UK businesses are eligible.
If businesses wish to take advantage of the deferral you MUST stop direct debit payments via the gateway account in good time so they do not automatically get taken, HMRC cannot do this.
The is no allowances for businesses on special schemes, such as the annual VAT payment.
How to access the scheme
This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020/2021 financial year, which ends on 31 March 2021, to pay any liabilities that have accumulated during the deferral period, this will be the date for monthly VAT payers. But the date for quarterly VAT payers, will be determined by their VAT filing deadlines, so possibly 31 March 2021, 30 April 2021 or 31 May 2021.. VAT refunds and reclaims will be paid by the government as normal.
VAT Returns must still be submitted on time during the period under the new MTD rules.