Latest updates for businesses regarding VAT Deferral

March 26th, 2020

VAT registered business are not required to make VAT payments that are due from 20 March 2020 to 30 June 2020.

This relief is automatic: it does not need to be claimed.

Your VAT liability and payment is not cancelled, it is deferred. Any VAT liability will need to be settled by the end of the 2020/21 tax year.

VAT refunds and reclaims are not affected.

This deferral measure will apply to VAT payments due for the VAT quarters:

Direct debits
If you pay your VAT by direct debit you must cancel the direct debit with your bank, if you wish to defer payment.

HMRC do not appear to be able to automatically stop collection of VAT by direct debit. HMRC say, “Please do so in sufficient time so that HMRC do not attempt to automatically collect on receipt of your VAT return”.

If you have any queries please contact your Champion advisor, or your local Champion office.

Latest News

Coronavirus Business Interruption Loan S...

April 9th 2020

With much confusion around the CBILS, we spoke with a trusted contact of ours from one of the leadin...

COVID-19: Job Retention Scheme and guida...

April 8th 2020

Gradually, we are seeing further information and guidance being released by Government which is help...

management accounts

HOW WE HELP YOU Our Management Accounts service can be fully tailored to your nee...

corporate finance

Growing through acquisition is an exciting opportunity for your business, but fear o...


Procter's Cheeses

Procter's Cheeses

Leading cheese manufacturer, Procter's Cheeses, has been developing its products for almost 30 years and produces more than 200 tonnes of cheese each year.

Our Tweets

Champion Accountants

Growth Protection Core Support Menu