Sole traders with July payment on account due by 31st July can defer this payment for up to 31st Jan without incurring interest and penalty. You are not required to contact HMRC. A further HMRC guidance is available here.
Businesses need to pay VAT on the normal due dates from 1st July following the introduction of COVID-19 driven VAT deferral. If your business is unable to pay VAT, it is important that you agree any extension with the HMRC prior to the deadline. This means a potential surcharge is avoided. There is no ‘standard’ […]