02 April Covid-19: Latest updated guidance for businesses

Take a look at  guidance for UK businesses from the Department of Business, Energy and Industrial Strategy (BEIS) which sets out the details and eligibility criteria for two funding schemes:

(This was updated yesterday and applies only to England)

VAT Deferral

Last week the Chancellor of the Exchequer announced that there will be a deferral of VAT due to be paid between 20 March 2020 until 30 June 2020 (see link below).

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid19/covid-19-support-for-businesses

This essentially means that businesses will automatically qualify to defer payment of the VAT due on their VAT returns for the VAT periods ending February, March or April 2020 until 31/3/2021, although VAT refunds and reclaims will be paid by HMRC as usual.

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