Thursday, 16 April, 2020
Local
HMRC has confirmed that all payments of VAT to HMRC due between 20 March 2020 and 30 June 2020 can be deferred.
You have the option to:
- defer the payment until a later date (31 March 2021)
- pay the VAT due as normal
It does not cover payments for VAT MOSS or import VAT.
Charity Tax Group has clarified what this includes:
- Payment for quarterly returns ending 29 February due 7 April,
- Payment for quarterly returns ending 29 March due 7 May,
- Payment for quarterly returns ending 29 April due 7 June,
- Payment for monthly returns due in this period
- Payments on account due in this period
- Annual Accounting advance payments.
HMRC will not charge interest or penalties on any amount deferred as a result of the Chancellor’s announcement.
Read Charity Tax Group's post here.
Or read the guidance from government in full here.
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