Many of you have asked us about preparing your VAT returns for you. As you know the Chancellor announced a VAT payments deferral on 20 March to support businesses with cash flow during the COVID-19 pandemic. This means that all businesses with a UK VAT registration have the option to defer VAT payments due between 20 March and 30 June. You therefore have until 31 March 2021 to pay any VAT deferred as a result of this announcement.
You do not need to inform HMRC if you wish to defer payment. You can opt in to the deferral simply by not making VAT payments due in this period. If you pay by Direct Debit you should cancel this with your bank, you should do so in sufficient time so that HMRC does not attempt to automatically collect on receipt of their VAT return.
YOU MUST STILL FILE A VAT RETURN, AND IT MUST BE ON TIME OR FINES COULD APPLY.
We will do everything we can to facilitate you if we are preparing VAT returns for you. Most of you are using on-line accounting, so we will be able to access this remotely and will able to prepare your returns for you without the need for physical paperwork or contact. If queries arise we will deal with these by e-mail/telephone. If you aren’t using on line software then please contact us, we will be leaving our porch open so that you can drop records off to us whilst remaining 2 meters apart, you should let us know so I can keep an eye out for your records.
SELF ASSESSMENT TAX RETURNS
A number of you have asked if records can be dropped to us in order to prepare your 2019/20 tax returns for you. Yes you can, if you can you should e-mail as much of your records as practical, if you are using on-line software we will be able to access this. If you need to drop physical records to us, then we will leave the porch open during office hours so that you can drop them to us whilst maintaining social distancing. Please contact us to say you are doing this and I will ensure that I pick them up. We will do everything we can to get these processed for you.