Deferred Taxes

Help your cash flow by delaying payments to HMRC. If you’re in temporary financial distress because of COVID-19 help is available from HMRC’s Time To Pay (deferred tax) scheme.

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VAT

If you’re a UK VAT registered business and have a VAT payment due between 20 March 2020 and 30 June 2020, you have the option to:

  • defer the payment until a later date
  • pay the VAT due as normal

After the deferral ends

VAT payments that are due at the end of the deferral period will have to be paid as normal. Further information about how to repay the defered VAT will be available soon.

SELF ASSESSMENT

Support for businesses through deferring Self-Assessment payments on account

If you’re due to pay a self-assessment payment on account by 31 July 2020 but the impact of the coronavirus causes you difficulty in making payment by that date, then you may defer payment until January 2021.

Eligibility

You are eligible if you are due to pay your second self-assessment payment on account on 31 July.

TIME TO PAY

Support for businesses paying tax: Time to Pay service

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service.

These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.

Eligibility

You are eligible if your business:

  • pays tax to the UK government
  • has outstanding tax liabilities

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