Global VAT Voice - COVID-19 update
Join us as we recap some of the emergency tax breaks that countries are introducing to support their stuttering economy.
Many UK businesses are at risk of losing out on the coronavirus 3-month VAT deferment if they do not act immediately. After announcing the easement on 20 March in the budget, HMRC has only just warned Direct Debit payers that they must contact their banks to cancel the facility or the VAT will automatically be withdrawn in the next few days.
Richard Asquith is the former VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.