24/03/2020 by Andrew Brealey - Brealey and Newbury Accountants 0 Comments
VAT payment deferral
Direct Debits should be cancelled!
We have heard from several sources, including HMRC, that your VAT payment will still be taken if your direct debit is not cancelled. This can either be done via your Government gateway account, or directly with you bank.
Any deferred UK VAT will be due in 2021 - dates vary The VAT not paid during the period is then due to be paid to HMRC by the end of the 2020/21 financial year, which ends on 31 March 2021. This will be the date for all UK monthly VAT payers. But the date for quarterly VAT payers, the majority, will be determined by their VAT filing deadlines, so: 31 March 2021; 30 April 2021; or 31 May 2021.
Returns must still be filed on time to new MTD rules
VAT returns must still be filed on time, including following the new 2020 MTD rules.