{"id":827,"date":"2020-03-26T00:00:00","date_gmt":"2020-03-26T00:00:00","guid":{"rendered":"https:\/\/taxbak.co.uk\/index.php\/2020\/03\/26\/support-with-paying-your-taxes\/"},"modified":"2020-03-26T00:00:00","modified_gmt":"2020-03-26T00:00:00","slug":"support-with-paying-your-taxes","status":"publish","type":"post","link":"http:\/\/taxbak.co.uk\/index.php\/2020\/03\/26\/support-with-paying-your-taxes\/","title":{"rendered":"Support with paying your taxes"},"content":{"rendered":"<p><strong>Further support to businesses and the self-employed, to delay the payment of various taxes was announced last week. They include:<\/strong><\/p>\n<p><strong>VAT<\/strong><\/p>\n<p>Any VAT that falls due for payment in the period from 20 March 2020 to 30 June 2020 can be deferred until the end of the 2020-21 tax year.<\/p>\n<p>This is not a cancellation of any liability that falls due in this period, merely a deferral. Businesses will need to ensure that they have funds to settle any arrears on or before the end of March 2021 (5 April 2021).<\/p>\n<p>Any refunds due from HMRC will be paid as usual.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Second payment on account due 31 July 2020<\/strong><\/p>\n<p>It has been confirmed that self-employed persons&rsquo; self-assessment, second payment on account for 2019-20, due 31 July 2020, can be deferred until 31 January 2021.<\/p>\n<p>Tax payers should be aware that as with the VAT offer, this is a deferral, not a cancellation of tax due. Those who take advantage will need to pay their second payment on account and any balancing payment for 2019-20 and any first payment on account &ndash; if any is due &ndash; for 2020-21.<\/p>\n<p>Please call if you need to clarify which VAT payments can be deferred and the likely longer term cash flow effects if you defer the self-assessment payment on account in July.<\/p>\n<p>In both cases there is no need to apply to HMRC to defer payments.<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>Further support to businesses and the self-employed, to delay the payment of various taxes was announced last week. They include: VAT Any VAT that falls due for payment in the period from 20 March 2020 to 30 June 2020 can be deferred until the end of the 2020-21 tax year. This is not a cancellation [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-827","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-left-layout","blog-style-postblock","","blog-alt-odd"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=827"}],"version-history":[{"count":0,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/827\/revisions"}],"wp:attachment":[{"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=827"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/taxbak.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}