Tax | Glasgow Chamber of Commerce

Tax

Extension of UK Government VAT deferral 

The UK government announced it will extend the temporary 15% VAT cut for the tourism and hospitality sectors to the end of March next year.

In addition, up to half a million business who deferred their VAT bills will be given more breathing space through the New Payment Scheme, which gives them the option to pay back in smaller instalments. Rather than paying a lump sum in full at the end March next year, they will be able to make 11 smaller interest-free payments during the 2021-22 financial year.

Scottish Government Business rates

A full year’s 100% non-domestic rates relief for retail, hospitality and tourism. 

The Scottish Government are working with Scotland's 32 Councils to make sure this relief is administered in the most effective way.  Updates will be posted here. 

Scottish Government Business rates [LIVE]

1.6% rates relief for all properties across Scotland, effectively reversing the planned below inflation uplift in the poundage from 1 April 2020. 

You do not need to apply for this relief and it will be applied to your bill by your local authority.  If you're struggling to pay your non-domestic rates bill you should contact your local authority and ask them about your payment options. 

UK Government VAT deferral [LIVE]

The deferral will apply from 20 March 2020 until 30 June 2020.  All UK businesses are eligible. 

This is an automatic offer with no applications required. Businesses will not need to make a VAT payment during this period. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal. 

UK Government Support for businesses paying tax

If you are concerned about being able to pay your tax due to COVID-19, call HMRC’s dedicated helpline on 0800 0159 559.

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