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VAT deferral
VAT registered businesses which would be due to make VAT payments between 20 March and 30 June 2020 will not be required to make any payment on any due date falling in this period.
The VAT payments which can be deferred are:
Any amounts deferred will be payable by 31 March 2021.
The deferral applies automatically so no application for deferral is required.
No interest or penalties will apply in respect of any amounts deferred under this arrangement.
VAT repayments and reclaims will continue to be paid by HMRC during this period.
VAT returns should be prepared and submitted to HMRC as normal by the normal due date. There has been no statement as to whether or not penalties will apply for late submitted VAT returns
Income Tax deferral
Income Tax payments on account of 2019-20 tax liabilities due on 31 July 2020 will be deferred to 31 January 2021 and any other Income Tax payable in July 2020 under Self-Assessment will also be deferred to January 2021.
No penalties or interest for late payment will be charged in the deferral period.
Amanda graduated from Brunel University, with a joint honours degree, achieving a BSC and BA degree in Leisure Management and Television and film studies. Amanda started her career in a customer service role before joining the hotel group Le Meridien as an Events coordinator, she was in the hotel industry for seven years and during her time won an award from a major international airline for her outstanding attitude and dedication to customer service, which she achieved while working for the Rezidor hotel group in the position of Airline Crew Manager. Amanda has over 20 years experience in customer relations and event management.
