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COVID-19: Deferring VAT payments

COVID-19: Deferring VAT payments

April Foster

All UK businesses are eligible to defer VAT payments for 3 months if required in the period 20 March 2020 until 30 June 2020.

This is an automatic offer, no applications will be needed.  Therefore businesses will not need to make a VAT payment during the three month period and will be given until the end of the 2020/21 tax year to pay any outstanding VAT.  VAT refunds and reclaims will be paid as normal.
You will still need to submit your VAT return to HMRC.  If you wish to defer your VAT payments and you pay by direct debit, you will need to cancel the mandate, otherwise payments will be taken by HMRC.

For further advice, please contact your usual Moore adviser.