Support for businesses through deferring VAT and Income Tax payments
The Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. If you’re self-employed, Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021.
The Government will support businesses by deferring Valued Added Tax (VAT) payments for 3 months. For VAT, the deferral will apply from 20 March 2020 until 30 June 2020.
Find out more about eligibility and how to access VAT Deferral here.
DEFERRAL OF SELF ASSESSMENT PAYMENT
The Self- Assessment payment on account, that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021.
Find out more about eligibility and how to access Deferral of Self Assessment payment here.
Support for Businesses Paying Tax
All and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.
Further information about eligibility and how to access Support for Businesses Paying Tax can be found here.