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26
MAR
2020

VAT Payments

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We ar starting to receive helpful hints and tips that might help you as you steer your business through the current economic climate and we’ll share these with you as and when we get them. The first is from our accountants who have been advised by HMRC that if you have a VAT return ending between 20 March 2020 until 30 June 2020 you can defer the payment until the end of the tax year 5th April 2021. Any VAT returns due to be filed during this time, should still be submitted online as usual. If you have a direct debit set up which normally collects the VAT payment automatically, then our accountants advise you to cancel the payment via your bank or gateway account login, as HMRC currently advise to cancel it, just to be safe.

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  • YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
    Whilst MortgageAbility does not charge for mortgage advice, please note that there will be an administration fee for arranging mortgages. The precise amount will depend upon your circumstances but we estimate it will be £395, payable on completion. MortgageAbility gives you the option to pay a non-refundable fee of 1% of the mortgage loan payable with the application. If this option is taken, MortgageAbility will refund any commission received from the lender.