The Finance Act 2008, Section 135
(Coronavirus) Order, SI
2020/934, provides that no interest or surcharges will arise in relation to the
coronavirus-related deferral of income tax self-assessment payments on account
or the deferral of VAT payments.
FA 2008 s 135 provides that, in the case of a disaster or
emergency specified by the Treasury as having national significance, no
interest or surcharges will be charged where HMRC has agreed to defer payments
in respect of specified liabilities under an enactment or contract settlement.
The Order specifies the deferral of income tax payments on account for 2019/20
until 31 January 2021, and the deferral of the 30 June 2020 quarterly VAT
payments until 31 March 2021, for this purpose. No interest or surcharge will
therefore arise during those deferral periods. The Order comes into force on 25
September 2020.
The Finance Act 2008, Section 135
(Coronavirus) Order, SI
2020/934, provides that no interest or surcharges will arise in relation to the
coronavirus-related deferral of income tax self-assessment payments on account
or the deferral of VAT payments.
FA 2008 s 135 provides that, in the case of a disaster or
emergency specified by the Treasury as having national significance, no
interest or surcharges will be charged where HMRC has agreed to defer payments
in respect of specified liabilities under an enactment or contract settlement.
The Order specifies the deferral of income tax payments on account for 2019/20
until 31 January 2021, and the deferral of the 30 June 2020 quarterly VAT
payments until 31 March 2021, for this purpose. No interest or surcharge will
therefore arise during those deferral periods. The Order comes into force on 25
September 2020.
