HMRC Relief

Government Support for your Business
Updated 12th May 2020

This scheme has been launched to provide additional cash flow support to small businesses

What do you need to know…

Eligibility…

  • Qualifying VAT payments are those which were ordinarily due to be paid between 20 March 2020 and 30 June 2020 can be deferred to 31 March 2021
  • Qualifying self-assessment payments are those which were ordinarily due to be paid by 31 July 2020 can be deferred to 31 January 2021
  • Any tax bill that you are struggling to pay VAT/PAYE/Corporation Tax/Self-Assessment, you may still be able to agree a Time to Pay arrangement with HMRC

Tips!!!
If you pay VAT by direct debit – cancel it, as HMRC will continue to take payments from active direct debits

If you decide to defer payments it is important to plan your cashflow carefully to ensure you have funds available to make payments by the revised deadlines

How we can help…
We can work directly with yourself and HMRC to agree a Time to Pay arrangement
We can support you in preparing cashflow forecasts and advise on smart ways to reduce costs and get paid on time

As ever, Adams O’Rourke are here if you need any further assistance regarding Covid-19 business support. Click here to get in touch with us.
Take care everyone!

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