Covid-19 Deferment & Liquidity

  • Deferring VATautomatic offer with no application required.  No business will need to pay Value Added Tax until after June 2020 - no interest or penalties will be charged on any amount deferred - returns still need to be submitted on time - to be repaid before the end of the 2020/21 tax year.
  • Deferring income taxincome tax payments due on 31 July 2020 may be deferred until 31 January 2021.  No application required, offer is automatic, no interest or late payments will be charged.  Check eligibility criteria.
  • HMRC time to pay - has been around since the global financial crisis in 2008 but is likely to be available on more generous terms by calling HMRC's dedicated line on 0300 200 3835.
  • Three month extension period to file accounts - businesses will be given an additional three months to file year end accounts with Companies House to help companies avoid penalties as they deal with the impact of COVID-19.  Applications can be made by phone 030 1234 500 or online via the normal filing gateway.
  • New HMRC tax payment helpline launched - to help businesses concerned about paying their tax due to Coronavirus (COVID-19) .  If you run a business or are self-employed and are concerned about paying your tax due to Coronavirus, you can call HMRC’s helpline for help and advice: 0800 024 1222.