Coronavirus - VAT

HMRC have initiated a VAT deferment procedure, however the situation is fluctuating each day so could change. If you are having financial difficulties due to the coronavirus then you can apply for a deferment of VAT. Currently HMRC are not checking the validity of any information received.
The HMRC telephone number is 0300 200 3853. You will need to have the following information at your finger tips:
  • Your VAT number
  • The date of VAT registration
  • The details of your last VAT returns box 5 figure.
  • The name, address and post code of your business.
You will need to explain that your income has been severely reduced/ceased due to the Coronavirus and that you will not be able to pay your VAT debt/liability. Ask for a deferment of 3 months and when this is agreed you will need to cancel your direct debit if you have one set up. HMRC will not chase the debt if this action has been completed but if you have taken no action  then they will proceed as normal.
The specialist HMRC unit hasn’t yet been set up so any calls to the specialist number are going through to the normal teams, as they have limited staff numbers.
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Added By: Sharon Worger on 20th Mar 2020 - 14:08
Last Updated: 20th Mar 2020 - 14:21

Number of Views: 196
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