The Government has announced that the next quarter of VAT payments will be deferred, meaning businesses will not need to make VAT payments from 20th March until 30th June 2020.
Businesses will then have until the end of the 2020-21 tax year to settle any liabilities that have accumulated during the deferral period.
The deferral applies automatically and businesses do not need to apply for it. VAT refunds and reclaims will be paid by the Government as normal.
Information, guidelines, and rules are changing rapidly, and you should seek independent confirmation before acting. The official Government web page is here, but we will keep you posted with any significant changes.
As always, if you would like to discuss anything please feel free to get in touch.