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UK: VAT payments and cashflow during the COVID-19 crisis

Mairéad Warren de Búrca 26 Mar 2020

On Friday 20 March 2020, we had the welcome announcement that the U.K. government would extend the time to make VAT payments due in the period from 20 March 2020 to 30 June 2020.

On Friday 20 March 2020, we had the welcome announcement that the U.K. government would extend the time to make VAT payments due in the period from 20 March 2020 to 30 June 2020.

 

Should you wish to avail of this facility, you do not need to make your VAT payments which are due between 20th March 2020 and 30 June 2020. These can be deferred to the end of the 2020/2021 tax year (this will depend on your financial year end).

 

You do not need to apply and no penalties or interest for late payments will be due.

 

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Article tags

COVID-19 | Pandemic | UK

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