Support for Businesses

Details on tax deferment inlcuding Business Rates, VAT and Time to Pay Schemes (TTP)

Business Rates Holiday and Grant (Retail, Hospitality and Leisure)

  • No rates charged for 12 months from April 2020.
  • Cash grant of up to £25,000 per property depending on the rateable valuable of the property
  • Only retail, hospitality and leisure business are currently eligible.
  • Bill changes should be applied automatically depending on your property classification.

There is also some additional relief available for smaller businesses with low or nil rates obligations due to existing reliefs.

VAT Holiday

HMRC have agreed to allow all UK businesses to defer VAT payments due between 20th March to 30th June and they will have until 5 April 2021 to clear these liabilities.

Time to Pay Scheme (TTP)

HMRC has indicated that it will accommodate more requests to defer existing tax liabilities over a longer period, which would include PAYE/NI, CIS and Corporation Tax liabilities as well as VAT. The TTP scheme is available to all UK businesses with existing liabilities.

Moorfields has experience of assisting businesses with their cash flow at times of stress and has successfully negotiated many TTP arrangements with HMRC. If our assistance could be of benefit to your business, please do not hesitate to get in touch with our Advisory team.