VAT Payments Deferral: End date 30 June 2020

VAT payments deferral ends on 30 June 2020.

ACTIONS:

- Set up direct debit if you have previously cancelled it;

- file your VAT as normal;

- pay your VAT on time if the payment is due after 30 June 2020.

Example: if your VAT period end is May 2020, you will have to file and pay your VAT liability as normal by 7 July 2020.

VAT repayments

HMRC will be processing VAT reclaims as normal within 5 working days.

VAT reclaims can not be off set against deferred VAT, but you can off set it against existing debts.

Further details can be found HERE.

Any questions, please let us know.

The information provided in this article is not intended to constitute legal, accountancy or financial advice. You should take independent legal, accountancy or financial advice before relying on the information in this article or before decisions are made or before you embark on any course of action.

Irina Inayat

Penn Accounts

0207 183 6623

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