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COVID-19 SUPPORT FOR BUSINESSES - DEFERRING VAT PAYMENTS

This is an update for those businesses wishing to benefit from the deferral of VAT payments between 20 March and the end of June 2020. Although this is technically an automatic offer to defer VAT payments, with no applications required, businesses who normally pay by direct debit should cancel their direct debit with their bank if they wish to defer any VAT payments. Please do so in sufficient time so that HMRC do not attempt to automatically collect the amounts due on receipt of your VAT return.

Businesses will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the VAT deferral period. VAT refunds and reclaims will be paid by the government as normal.

Remember, if you need help deferring VAT payments, we are here to support you. Please use email as the preferred method of communication if you have a named contact at Afford Bond. If you do not have this, and need help deferring VAT payments, please use the Contact Form on our website and we will respond to you as soon as possible.