You have a VAT bill due soon. What help is there?

You can defer any VAT payments due between 20 March – 30 June 2020 until 31 March 2021. That means for VAT quarters ending 29 February 2020, 31 March 2020 and 30 April 2020 can be delayed until the end of March 2021. If you have a monthly VAT submission, you can defer the payments due between 20 March – 30 June 2020 too.

What if there is a direct debit setup for VAT payments?

If you are deferring the VAT payment for the above periods, cancel the direct debit. However, remember to set the direct debit back up for future VAT returns.

Does the deferral of VAT payment mean that the VAT return doesn’t need submitting either?

No. You will still be required to submit the VAT return by the deadline date.

What if you have a VAT refund? Will these still be paid out?

Yes. VAT refunds will continue to be paid out to businesses although it may take a little longer than usual due to the current situation.

You’re due to pay Corporation Tax and/or PAYE to HMRC soon. Is there any help with delaying payment due to COVID-19?

There is a Time to Pay Service so it’s worth noting that if you are suffering any financial issues with regards to paying taxes on time, you can call them on 0800 0159 559.

Through this dedicated helpline you can try to make arrangements to spread your current tax bills over a number of months.  Informing HMRC before a payment is late can also result in suspension of penalties, interest and black marks against your record, so don’t bury your head in the sand if you know you cannot pay a liability that will soon fall due.  They will assess each person on a case by case basis, and are likely to ask questions about personal finances, expenditure etc.  Other payment helplines are here.

If you have any specific questions that have not been answered above, please contact us or leave a comment below.