Tag: VAT

Online VAT deferral scheme now open

Over half-a-million businesses that deferred VAT payments in 2020 can now join the new online VAT Deferral New payment Scheme to pay what they owe in monthly instalments, HMRC has announced. To take advantage of the new payment scheme businesses will need to have deferred VAT payments between March and June 2020, under the VAT Payment Deferral Scheme. They now

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Pay VAT deferred due to coronavirus

The government has updated its advice for those businesses that deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make. They can: pay the deferred VAT in full, on or before 31 March 2021. join the VAT deferral new payment scheme – the online service is open between 23 February and 21 June

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September update from Janet Jack

As the latest figures show that the unemployment rate has hit its highest level in two years, Chancellor Rishi Sunak has said his “number one priority” is looking for ways to protect jobs. For bookkeepers, the number one priority must be to provide guidance and advice to their clients about what support is available at this challenging time. Almost 10

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HMRC reminding businesses of VAT obligations

HMRC is reminding firms that they need to reinstate cancelled direct debits for paying their VAT bills. At the start of the coronavirus pandemic HMRC gave businesses the option to defer VAT payments if they were unable to pay on time. They could do this without incurring late payment interest or penalties. Under the scheme, payment of VAT due between

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