HMRC issues guidance for VAT deferral

14 Apr 2020

HMRC has issued detailed guidance for the process of deferring VAT filings by three months under Making Tax Digital (MTD).

As part of the government's coronavirus (COVID-19) measures, UK VAT-registered businesses with a VAT payment due between 20 March 2020 and 30 June 2020 have the option to either defer the payment until a later date or pay the VAT due as normal.

In a VAT Notice, HMRC stated: 'Returns should be made as normal, although payment doesn't have to be made.

'If a business pays by direct debit, they should cancel that so we do not collect the payment.

'Parts of the notice include rules that have the force of law under the regulations. These rules are indicated by being placed in a box. Unless otherwise indicated within the rule, all of the rules contained in this Notice have the force of law from the date the regulations have the force of law.'

This guidance is a legal adjunct to existing rules, although HMRC stressed that this was 'not a standalone document and should be read together with other VAT notices'.

Copyright

© 2024 Michael Letch & Partners LLP. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Contact Us

Please call:
01277 655 626

Quick links

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

Address
Michael Letch & Partners LLP, 146 High Street, Billericay, Essex CM12 9DF

Michael Letch & Partners LLP is a limited liability partnership registered in England and Wales with registration number OC328815.

Michael Letch & Partners LLP is regulated by the Association of Chartered Certified Accountants in the United Kingdom.

Michael Letch & Partners LLP is also regulated by the Financial Conduct Authority to carry out specific activities and investment advice (registration number 112064).

The term ‘Partner’ is used to refer to a member of Michael Letch & Partners LLP. A list of members is open to inspection at our registered office at 146 High Street, Billericay, Essex, CM12 9DF.

Michael Letch & Partners LLP is registered to carry out audits in the UK by the Association of Chartered Certified Accountants.