The chancellor has announced a VAT payments deferral on 20th March to support businesses with cash flow during the COVID-19 pandemic.

All VAT registered businesses can defer any VAT payments due between 20th March and 30th June 2020. You Will now have until 31st March 2021 to pay any deferred VAT as a result.

You do not need to inform HMRC of your wish to defer a VAT payment, however if you have a direct debit set up to pay your VAT, you must cancel this with your bank.

Should you wish, you can still make your VAT payments as usual. HMRC will continue to make repayment claims as usual. All VAT returns must be submitted as normal.

For any queries visit https://www.gov.uk/coronavirus