UK HMRC warns COVID VAT deferment ends 30 June
- Jun 18, 2020 | Richard Asquith
The UK’s HMRC is warning businesses that it intends to end the 3-month VAT payments deferment on 30 June 2020. The COVID crisis VAT payment holiday was available between 20 March and 30 June for any due VAT liabilities.
Businesses which took-up the coronavirus crisis easement should consider the following:
- Reinstate bank direct debits in enough time for HMRC to take payments due from 1 July onwards
- UK VAT returns must be submitted as normal
- Make direct bank payments as normal
- Where taxpayers have postponed any VAT during the deferral period, it must be paid by 31 March 2021