Paying VAT Deferred Due to Coronavirus

HMRC has announced that companies with outstanding VAT balances can choose from three payment options:

1. Pay the deferred VAT in full, on or before 31st March
2. Join the new VAT deferral payment scheme – the online service is open between 23rd February and 21st June
3. Contact HMRC by phone on 0800 024 1222 by 30th June if you need extra help to pay

Penalties

HMRC has also made it clear that companies with outstanding VAT payments may be charged interest or a penalty if they fail to complete one of the three actions by the dates stated above.

We can help

We appreciate that you may be under a lot of stress at the moment, so we’re here to answer any questions and recommend the best course of action for your business. Call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in our contact form.