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Coronavirus an update from HMRC


TLL continue to serve your needs, and whilst we would not encourage clients to visit the office, we can work remotely and deal with most matters via phone / email. Please be patient if we are not able to deal with your request immediately due to staff not all necessarily being if the office at the same time.

Our thoughts are with all of our clients and we hope to be in touch with as many as possible, as resources allow, to see how your business is affected and where we may assist.

If you require finance from your bank, they may require management accounts or projections – please let us know as soon as possible if this is likely so that we can schedule time to assist you in preparing these.  If your own bank are not able to provide finance, we may be able to suggest other sources of funding available depending on your circumstances.

Our payroll bureau continues to function as normal, with colleagues working remotely, and we are happy to deal with your questions regarding the new government measures – sick pay, refunds, etc.  Please email, rather than phone, if your query is not urgent, so that the phone lines can be kept open for urgent cases, especially towards the end of the month when most payrolls are processed.

We are waiting to clarify with HMRC when the portal will be available for claiming 80% of wages (expected end of April) and what access they will give us to be able to assist with this if required. A charge may be necessary to assist with revised wage calculations if complex.

Personal Tax
HMRC have announced that for personal tax instalments due on 31st July 2020, these can be delayed until 31st January 2021 when the next payment is normally made.  Whilst you should still be able to make a payment on account if you prefer to, if you don’t please ensure you keep this put aside, where possible for  when it is due.  If a loss is incurred in the coming months leading up to 31st January 2021, it may be that you have less tax to pay or even a refund due which we will calculate for you in the normal time-scale.

VAT payments for in the coming few months will be deferred until the end of March 2021.
The deferral will apply for VAT payments normally due between 20th March and 30th June 2020 (i.e. quarters ending Feb, Mar, Apr ’20). Later VAT periods will currently be paid on the normal due dates. Refunds will be processed as normal. VAT returns still need to be filed on time.

The VAT decision was welcomed as it provides an immediate cash benefit to businesses, but it is difficult to properly assess the mechanics until the HMRC technical guidance is issued. 

Clients who pay their vat by DD need to cancel the arrangement or the next payment will be extracted from your account


Clients who pay their vat by DD need to cancel the arrangement or the next payment will be extracted from your account

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