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IRC launches ‘We are open' online directory to promote small shops and business still open

14 May 2020

Open shops and small businesses are urged to add themselves to the new ‘We are open' interactive map
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FCA seeks legal judgement to clarify whether insurers should pay CV-19 claims made by firms

14 May 2020

More than a million businesses forced to close during the coronavirus lockdown may know whether insurers will have to pay previously rejected business interruption claims in a matter of... Read more…

Free ActSmart subscription to help businesses through Covid-19

14 May 2020

ActSmart are offering three months of FREE access to to a range of services and support with the ActSmart bronze subscription in return for a small charitable donation
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250 free-of-charge digital Out of Home campaigns offered to local businesses

13 May 2020

Free Out of Home campaigns will help local entrepreneurs across the UK to highlight how they've adapted to continue trading in the current circumstances.
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Working safely during COVID-19 in shops and branches

13 May 2020

A summary of the specific guidance for shops on working safely
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How consumer behaviour has changed among the British public in the face of COVID-19

10 May 2020

Recent research undertaken by the Institute of Customer Service displays evidence that the British public now place higher value on customer service that they did before COVID-19
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Government will deliver a "tapered" end to furlough scheme

5 May 2020

Chancellor Rishi Sunak has promised there will be no "cliff-edge" cut-off to the government's job retention scheme to support workers through the coronavirus pandemic.
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Coronavirus Testing available for shop workers

30 Apr 2020

The Government has extended COVID-19 testing to essential workers with symptoms and people who live with essential workers and have symptoms. This includes anyone with symptoms whose work cannot... Read more…

Best practice on offering and processing ‘card not present' payments

23 Apr 2020

This guidance is designed to inform retailers about best practice on offering and processing ‘card not present' payments during the Covid-19 outbreak.
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Get ready to make your claim under the Coronavirus Job Retention Scheme today!

20 Apr 2020

As of today employers can make a claim through the Job Retention Scheme if they have put their employees on temporary leave (furlough) because of the coronavirus (COVID-19) outbreak.
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Deferral of VAT payments as a result of COVID-19

Posted on in Business News, Cycles News, Political News

If you're a UK VAT registered business and have a VAT payment due between 20 March 2020 and 30 June 2020, you have the option to:
  • defer the payment until a later date
  • pay the VAT due as normal

It does not cover VAT MOSS payments.

HMRC will not charge interest or penalties on any amount deferred as a result of the Chancellor's announcement.

You will still need to submit your VAT returns to HMRC on time.

HMRC will continue to process VAT reclaims and refunds as normal during this time.

 

If you choose to defer paying your VAT

If you choose to defer your VAT payment as a result of coronavirus (COVID-19), you must pay the VAT due on or before 31 March 2021.

You do not need to tell HMRC that you are deferring your VAT payment.

If you normally pay by Direct Debit you should contact your bank to cancel your Direct Debit as soon as you can, or you can cancel online if you're registered for online banking.

 

After the VAT deferral ends


VAT payments due following the end of the deferral period will have to be paid as normal. Further information about how to repay the VAT you've deferred will be available soon.

If you're in temporary financial distress because of COVID-19


If you are experiencing financial difficulties more help is available from HMRC's Time to Pay scheme.


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