daily update from John Bridge OBE DL, Chief Executive
VAT payment deferral period ends on 30 June 2020
The VAT payment deferral period ends next week on 30 June 2020. This means you’ll need to:
• Set-up cancelled direct debits in enough time for HMRC to take payment
• Submit VAT returns as normal, and on time
• Pay the VAT in full on payments due after 30 June.
Any VAT payments you have deferred between 20 March and 30 June should be paid in full on or before 31 March 2021. You can make additional payments with subsequent returns.
Please remember to contact HMRC if you are unable to pay the VAT due and may need time to pay as soon as possible and before the payment is due.
UK Government provides further halt to business evictions and more support for high street firms
We provided details of the new code of practice yesterday regarding support to shops and local firms planning their future recovery with their landlord.
In addition you should also be aware that:
• The UK government has extended measures to prevent struggling companies from eviction over the summer
• The Coronavirus Act will extend the time period for suspension of the forfeiture of evictions from June 30 to September 30, meaning no business will be forced out of their premises if they a miss a payment in the next three months
• Secondary legislation to prevent landlords using Commercial Rent Arrears Recovery unless they are owed 189 days of unpaid rent. The time period for which this measure is in force will be extended from June 30 to September 30.
An amendment to the Corporate Insolvency and Governance Bill has been tabled which will extend the temporary ban on the use of statutory demands and winding-up petitions where a company cannot pay its bills due to coronavirus until 30 September. Find out more here.
Are you interested in looking beyond our own borders to drive growth and expand your customer base, bouncing back strongly from the recent crisis?
This month at our Export Club on Tuesday 30 June from 4.00-5.00pm via Zoom, we welcome Iwona Lebiedowicz, Director at PAB Languages Centre Ltd, as our guest speaker. Iwona will be talking about how to get your messages right when communicating beyond your own borders. Creating localised content for each market is key to ensuring your global website and marketing campaigns resonate with the target audience.
Further details and registration can be found here.