What does this mean for me?
If you are VAT registered, you need to note that the VAT holiday is over from 1st of July 2020.
If you pay by direct debit you need to reactivate your direct debit mandate with your bank, so that everything goes smoothly and you start paying again.
Which periods need paying now?
All VAT payments due after 30th June are now payable. Which means if you have a VAT period up to 31st May and it is due by 7th July then this is payable as it would have been usually.
What do I do if I can’t pay?
HMRC have said they will be sympathetic with those that cannot pay due to being affected by COVID-19.
If you feel like you can’t pay your VAT then you can ring the Payment Support Services. They are on 0300 200 3835 between 8am and 4pm Monday to Friday.
Even if you cannot pay your VAT it is imperative that the submission is completed on time as usual.
