VAT
- Businesses will be supported by deferring VAT payments for 3 months.
- The deferral will apply from 20 March 2020 until 30 June 2020.
- All UK businesses are eligible.
- This is an automatic offer with no applications required.
- Businesses will not need to make a VAT payment during this period.
- Taxpayers will be given until the end of the 2020/2021 tax year to pay any liabilities that have accumulated during the period.
- VAT refunds and reclaims will be paid by the government as normal.
Income Tax
- If you’re self-employed, Income Tax payments due on 31 July 2020 under the Self-Assessment system will be deferred until 31 January 2021.
- If you are self-employed you are eligible.
- This is an automatic offer with no applications required.
- No penalties or interest for late payment will be charged in the deferral period.
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