VAT Holiday Payment Ends

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’ extension period offered by HMRC but you should work out how much you can afford to pay and when, then that time period should be justified and agreed with HMRC. In the current climate, it is likely that HMRC are sympathetic, particularly if you have a reasonable excuse.

 

 

 

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