Coronavirus – Business Support Update – 01/07

In addition to the upcoming changes to the Coronavirus Job Retention Scheme (“CJRS”), outlined in our previous post, please be aware that the last date for submitting CJRS claims to HMRC in respect of periods ended on or before 30 June 2020 is 31 July 2020.

Despite rumours of the VAT deferral programme being extended, there has been no formal announcements made.  As a result, this programme has now ended and any VAT liabilities due from 1 July 2020 are subject to the standard payment deadlines.  If you’ve previously taken advantage of the VAT deferral scheme and cancelled your VAT direct debits with HMRC, this should be reinstated in time for your next payment due date. HMRC has confirmed that it will not collect the outstanding balance of deferred VAT when direct debits arrangements are reinstated.

If you have any questions regarding these changes please feel free to contact us.