Last updated: 01 April 2020

Deferral July Payment for the Self Employed. Government Guidance

00:00 – That deferral skiing. What’s that all about in this covert environment? As we know, we’re in a very toxic, uh, economic and business environment. But let’s spare a thought for all the people that are suffering in the toxic health environment. You know, doctors and nurses are working, uh, ambulance and the no policemen, the fire brigade are doing really unpleasant tasks.

People are losing family members. It is a sad, sad time but we’ve got to protect our businesses so we can work another day. And so the government has introduced. The VAT deferrals scheme, it’s for any payments due up to the end of 30th June. Now there is a bit of confusion, whether that includes the May VAT return, which is.

Do you want the 30th of June, but it people could argue as June the 7th of July.

01:00 – I think we should be generous with this and it should be 30th it should be the may return included in that. So if you’ve got VAT, G, or anytime between the announcement in the middle of March and the end of June, I would recommend a few all in business, and you’re not sure about your cash flow.

You want to defer that. Now you may need to pay interest. So three and a half percent, 3.25% per annum, very low interest rate. It’s better than bank for an overdraft or a loan. And in fact, I just heard today that if you’re looking for the, uh, the covert loan, then, uh, the British bank is going to be looking for you to abuse all the other cashflow measures, including.

The vac deferral scheme and deferring corporation tax. Okay. So keep that in mind. If you want more information on the VAT deferral scheme of have recorded various blogs over the days and weeks, uh, please click on the link below and you will get the, and, uh, you, you keep yourself up to date. If you subscribe to it, we’ll send you, you know, you’ll get, uh, information as and when not changes.

02:00 – Just keep an eye out on, on this page and it’ll tell you when the latest bit has been updated and each page will be updated. As more information becomes available. Alright. Uh, you remember you go to find your vector tunes on time though, right? Do you call? Not file your veteran? You’ve got to follow the veterans, but you can defer the, uh, the payment or I, this is going to Southern wishing you well, stay safe, stay healthy, stay calm, and, let’s keep a heads while all around us are losing this.

You take care goodbye.