How to claim your VAT deferral
VAT payments due before the end of June 2020 can be deferred until March 2021.
This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period.
Please remember that the deferred VAT payment will eventually need be paid on or before 31 March 2021 – and VAT returns should be processed as normal.
VAT refunds and reclaims will be paid by the Government as normal.
Cancel your direct debit
However: whilst HMRC does not require you to make a VAT payment – if you pay by direct debit (and many businesses do) YOU SHOULD CANCEL YOUR DIRECT DEBIT TO ENSURE THAT HMRC DOESN’T AUTOMATICALLY TAKE PAYMENT.
Murray Patt says:
Many of our clients plan to make use of this VAT deferral in order to conserve cash in their business. We are keen to remind everyone who is doing so to cancel their direct debit to avoid payment being taken.
