Please find further published information regarding this here
Self-Employment Income Support Scheme
Limited Companies - Extension to Filing Deadlines
VAT: Payment Deferral
The Chancellor announced that VAT Registered businesses could defer payment of any
VAT due for the quarters ending 29 February, 31 March & 30 April 2020 until the end
of the financial year - at present this means the end of March 2021 but everything
is under review. HMRC have said that there will be no interest or penalties for those
specific VAT quarters if paid on time next year.
However on 24 March 2020 the reminders were emailed to businesses in respect of the
current quarter to 31 March 2020 WITHOUT ANY CHANGE to the normal wording about payment
The "soft landing" for Making Tax Digital has been extended to 31 March 2021.
More details will follow as HMRC publish them
Coronavirus Job Retention Scheme
2nd Instalment of Personal Tax on Account 2019/20
Normally payable by 31 July 2020 but has been deferred - as announced by the Chancellor.
You do not need to apply to defer the July 2020 payment - simply don't pay it. The
deferred tax (and NIC) will become payable by 31 January 2021.
Corporation Tax Payable 1 April 2020
HMRC have confirmed that the deferral relating to the payment of "business tax" includes
Corporation Tax. An application must be made in writing to HMRC or by calling the
new Helpline on 0800 015 9559. It is likely that the deferred Corporation Tax will
become payable on 31 January 2021.
Government Updates Emailed to you Direct
You can log on to the Government's special Coronavirus website for updated information,
both for financial help and containment measures by clicking here.
Once there you can choose to receive automatic government updates by email - you
can choose how often you receive these. You will need to click the link in the resulting
email to activate this service.
Note: when you access this site, scroll down for options.
Emergency Statutory Sick Pay
What are the new Statutory Sick Pay arrangements relating to Coronavirus, COVID-19?
HMRC Business Help & Support Emails: Budget 2020 - an extract in respect of Statutory
HMRC Budget 2020 measures which support businesses and employers on COVID-19:
The Chancellor has set out various measures to support public services, individuals
and businesses that may be affected by COVID-19. These include:
• For businesses with fewer than 250 employees, the cost of providing 2 weeks
of COVID-19 related statutory sick pay per employee will be refunded by the government
in full. This will provide 2 million employers with up to £2 billion to cover the
costs of large-scale sick leave. HMRC will provide further details in due course
on how employers can access the rebate. More information about this and regular updates
can be found on GOV.UK.
• A dedicated helpline has been set up to help businesses and self-employed
individuals in financial distress and with outstanding tax liabilities receive support
with their tax affairs. Through this, businesses may be able to agree a bespoke Time
to Pay arrangement.
If you are concerned about being able to pay your tax due to COVID-19, call HMRC's
dedicated helpline on 0800 0159 559.
Further details on other COVID-19 measures can be found on GOV.UK.