The government has just announced measures that will allow for the deferral of income tax payments that would have become due on 31 July 2020.

Most self-employed people and company directors will pay taxes as determined via their self-assessment tax return.

This will take the form of a larger payment in January and in cost cases additional payments on account in January and July.

Under this new assistance in light of the coronavirus outbreak, tax payers who have a July payment in account need not make this payment.

Instead of paying this amount of 31 July 2020, tax payers can defer this sum until 31 January 2021.

Please note, this payment will still be due for payment on this date but without any interest or penalties applied. 

Ask Us For Help

 We are here to help and have set up a dedicated team to help you during this crisis. 

If you are considering using this scheme or have any questions regarding this measure, please email coronavirus@switchaccountants.co.uk and we will contact you to discuss your exact situation.