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| Sedulo COVID-19 guidance

VAT payment deferral

To support businesses during the COVID-19 crisis, the Government announced on 20 March that VAT payments will be deferred for three months.

The deferral was available to all UK VAT registered businesses and applied to payments due between 20 March 2020 and 30 June 2020 (except for VAT MOSS payments which are not covered); and was automatic, with no application or notification of HMRC required.

Businesses were not required to make VAT payments during the deferral period, and were instead initially given until 31 March 2021 to pay any liabilities which accumulated. However, it was further announced on 24 September in the Chancellor’s Winter Economy Plan that, rather than paying in full at the end of March 2021, businesses will be able to choose to make 11 equal instalments over 2021-22. All businesses which took advantage of the VAT deferral can use this New Payment Scheme. However, they will have to opt in, with an opt-in process expected to be put in place in early 2021.

HMRC will not charge interest or penalties on any amount deferred. VAT refunds and reclaims continue to be processed as normal

Personal Tax Automatic Time To Pay

Time to Pay provides businesses who are affected by the impacts of COVID-19 with time to pay any outstanding or upcoming tax liabilities.

HMRC’s Time To Pay arrangements will be agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. HMRC will assess the information provided and make a decision on whether the business is eligible for deferment/further deferment of payment.

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