Lockdown 3.0 has felt like an eternity. However, there is a light at the end of the tunnel with the vaccinations being rolled out. Hopefully everyone will have some more clarity when the Prime Minister announces his road map to normality on Monday the 22nd of Feb.
Many businesses have taken on the Government support schemes throughout the pandemic and some of these are scheduled to end soon. However, there is support to help your business get back to normal and avoid getting into debt.
Did you defer your VAT between 20th March and 30th June 2020?
If you deferred your VAT payment for any returns between the 20th of March 2020 to 30th of June 2020 the payment deadline is the 31st of March 2021.This additional outgoing can be scary for businesses. However, HMRC will allow you to pay it back interest free over 12 months. To do this you MUST:
Register with HMRC between the 23rd of Feb and 21st of June 2021
Have access to your own Government gateway.