VAT payments over the next three months will not be payable until 31 March 2021.
The VAT deferment applies automatically to all businesses and will benefit around two million taxpayers.
VAT returns still need to be submitted on time and repayment claims will still be processed as normal.
The period of deferment provides immediate relief to businesses.
Once the period of deferment is over, many businesses will still have tax payment concerns. It is to be hoped that the government will continue to support affected businesses at that time.
Meantime the special HMRC support line (0800 0159 559) announced in the Budget remains in place. More information regarding the support line can be found here.
If you need specific advice regarding your VAT obligations or help obtaining a VAT repayment please contact Robert Plumbly on 01223 728238 or email@example.com