Further to our recent email regarding Government assistance, we have discovered that the provision for delaying VAT payments relate to quarters ending February, or March, or April.
Therefore as this provision is being offered by HMRC to assist your cashflow in these difficult times, and as it is interest free (or so we understand it at the moment), we would advise that you take account of this provision. To do this you will need to cancel your Direct Debit for HMRC VAT with your Bank.
Please note, that this does not take away your responsibility to pay this VAT due in the long term. It simply means you will need to be more careful and put away these funds safely ready for when it becomes payable later in the year.
Please note that the VAT Returns still have to be submitted, it is only the payments that can be delayed.
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