VAT and Income Tax Payments

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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