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Adding value by
solving business problems.

Adding value by
solving business problems.

Latest News

Coronavirus Future Fund launched
20/05/2020 - More...
Last month, the Chancellor, Rishi Sunak, announced a number of measures to help innovative firms survive the Coronavirus

Maximum loan under CLBILS increased to £200m
20/05/2020 - More...
The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) is to be extended from 26 May 2020. The

Working safely during coronavirus
19/05/2020 - More...
The government has produced guidance to help employers, employees and the self-employed in England understand how to

Coronavirus deferral of VAT payments

Source: HM Revenue & Customs | | 31/03/2020

In another move to help businesses the government announced that VAT registered businesses can defer any VAT payments due between 20 March 2020 and 30 June 2020. There is no application process required to defer the relevant payment. However, businesses can still choose to pay any VAT due as normal. 

It is important to note that this is only a deferral and whilst no interest or penalties will be due on deferred payments, the full amount of VAT due will still need to be paid. If you choose to defer your VAT payment as a result of Coronavirus then you must pay the VAT due to HMRC on or before 31 March 2021.

If you are planning to make use of the deferral offer, and you pay by direct debit, then you should cancel your direct debit. You can cancel your direct debit online using online banking or contact your bank if necessary. Please make sure that you do this as soon as possible to ensure that HMRC do not automatically collect the VAT due. You should also keep a note to re-establish the direct debit when your next VAT payment is due (if no further deferrals are announced). 

HMRC has said that they will continue to process VAT reclaims and refunds as normal during this time.



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Milton Avis LLP
Chartered Accountants
Pitt House
120 Baker Street
London W1U 6TU

Tel : 020 3219 5860
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.

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