VAT payments for all UK businesses will be deferred for 3 months
The government will be automatically deferring business payments for Valued Added Tax (VAT).
The deferral will apply from 20 March 2020 until 30 June 2020.
All UK businesses are eligible.
How to access the scheme
This is an automatic offer with no applications required. You do not need to tell HMRC that you are deferring your VAT payment.
Businesses will not need to make a VAT payment during this period.
Taxpayers will be given until 31 March 2021 to pay any liabilities that have accumulated during the deferral period.
VAT refunds and reclaims will be paid by the government as normal.
Payments made by Direct Debit
If you normally pay by Direct Debit you should contact your bank to cancel your Direct Debit as soon as you can, or you can cancel online if you’re registered for online banking. https://www.gov.uk/guidance/deferral-of-vat-paymen...
Income Tax payments have been deferred until 2021
Your Self- Assessment payment on account, that is ordinarily due to be paid to HMRC by 31 July 2020 may now be deferred until January 2021.
If you are due to make a Self-Assessment payment on account on 31 July 2020 then you are eligible for the deferment.
The deferment is optional - anyone able to pay their second self-assessment payment on 31 July 2020, should still do so.
How to access the scheme
Deferred Self-Assessment payment is an automatic offer. You do not need to apply.
No penalties or interest for late payment will be charged in the deferral period.
HMRC has also scaled up its Time To Pay arrangement, which is a method of spreading your business tax payments over a longer period of time in a more affordable way. It is available to all firms and individuals who are in temporary financial distress as a result of COVID-19 and have outstanding tax liabilities.
If you are having trouble paying your tax bill or may struggle to meet your tax obligations in the future, call the
HMRC Coronavirus Helpline
Telephone: 0800 024 1222
Monday to Friday, from 8 am to 8 pm https://www.gov.uk/pay-self-assessment-tax-bill
Rates relief (Updated 19 May)
Rates holiday for businesses
There will be a four-month rates holiday for all business ratepayers, excluding public sector and utilities. The effect of this is that no rates will be charged for April, May, June and July 2020. This will be shown as a discount on the annual rate bill for business ratepayers.
Rates relief for specific sectors
In addition, the sectors hardest hit by the coronavirus pandemic will pay no rates for the full financial year up until 31 March 2021. Those sectors are:
hospitality, tourism and leisure
retail (excluding certain supermarkets and off-licences)
Belfast City Airport, Belfast International Airport and the City of Derry Airport