If, due to Coronavirus, your business deferred VAT payments due between 20 March and 30 June 2020 and you still have payments to make, you can: pay the deferred VAT in full, on or before 31 March 2021, join the VAT deferral new payment scheme – the online service is open between 23 February and…
In response to the continuing Coronavirus health emergency, the Government has extended the period during which the reduced rate of VAT will apply to the hospitality and tourism industries. The reduced rate of VAT, which came into force on 15 July 2020, will continue to apply until 31 March 2021. As a result, VAT at…
UK businesses can only use the EU VAT Refund System until 11 pm on 31 March 2021. This means that claims for a refund of VAT incurred in other EU Member States for the year ended 31 December 2020 must be submitted by then. Prior to Brexit the deadline was 30 September following the end…
To be eligible to claim for the third Self-Employment Income Support Scheme (SEISS) grant you must either: be trading and impacted by reduced demand due to coronavirus, or have been trading but are temporarily unable to do so due to coronavirus. To help businesses understand whether they are eligible for the 3rd SEISS…
On 24 September 2020 the Chancellor announced and extension to scheme allowing for the deferment of VAT for businesses affected by coronavirus. Businesses that took advantage of the arrangements to defer VAT payments due between 20 March and 30 June 2020 until 31 March 2021, will have the option to pay the outstanding amounts in…
From 3 to 31 August 2020 businesses that offer a discount under the The Eat Out to Help Out Scheme are able to claim the discounted amount back from the Government. Whilst on the face of it you might expect VAT only to be payable on the discounted amount, in-fact VAT is payable…
Following the Chancellor’s recent announcement, HMRC has issued guidance for businesses to register for the Eat Out to Help Out Scheme, which will enable them to offer a discount to diners from 3 August 2020. The Scheme can be used: all day every Monday, Tuesday and Wednesday from 3 to 31 August 2020,…
Further to my blog on 22 June 2020 (please see below), just a reminder that the deadline for applying for the first SEISS grant is 13 July. Those eligible under the Self-employment Income Support Scheme (SEISS) will be able to claim a second and final grant in August 2020.The grant will be worth 70%…
As part of the Government’s measures to try to stimulate the economy, the Chancellor has announced a reduction in the rate of VAT payable by the hospitality and tourism industries. From 15 July 2020 until 12 January 2021, the rate of VAT will be reduced to 5% on any eat-in or hot takeaway food…
Many businesses have taken advantage of HMRC’s concession to defer VAT payments falling due between 20 March and 30 June 2020. If you have used this concession, and as a result cancelled your direct debit, do not forget to reinstate the direct debit mandate in time for any VAT payments falling due on or after…