Coronavirus & VAT Update

Firstly apologies for adding yet another Coronavirus related email into your inboxes but we recognise it’s important that our Centurion clients know that our support remains here and we’ve put processes in place. We also wanted to send our warmest regards across our network and hope that you and your family are staying safe during these unprecedented times.

This note does cover an update on working practices at Centurion but as we recognise that paying VAT bills to HMRC will be high on the concern list for many we’ve also outlined some areas of official and sensible VAT management to consider on that side.

HMRC – Time to Pay Agreements

It is clear that HMRC are open to contact to discuss Time to Pay agreements for VAT payments. There is a dedicated HMRC helpline number 0800 0159 559 for those who are unable to pay due to coronavirus. 

Through this helpline HMRC will discuss:

• agreeing an instalment arrangement
• suspending debt collection proceedings
• cancelling penalties and interest where you have administrative difficulties contacting or paying HMRC immediately

The opening hours are Monday to Friday 8am to 8pm, and Saturday 8am to 4pm.

Anecdotally we are hearing that HMRC could have the “discretion” to agree up to £100,000 value of deferment through that Helpline but clearly your individual circumstances will be considered by them – but it is a positive. You should have news from your accountancy advisers on the other grant schemes and employers support so I’ll simply add that - Government advice for business can be found here

Using VAT Rules to improve Cashflow

There may be business processes that can be sharpened up to improve overall Cashflow in your business or charity using existing VAT ideas or structures. They vary in application, of course, so the offer from us at Centurion is call/email us if you just want to check you’ve not missed something simple on the VAT side which could help. We are all in this together so there’s no charge from us for a phone conversation to see if there is something of use from the existing rules. We need the UK economy to be as resilient as possible at this time and cashflow is key if our community is to weather this storm.

Centurion Team Work

Our office in Newport is open and we have a rota in place to limit contact in the office whilst ensuring we maintain the high quality of service and response time that Centurion is known for.

Please contact us as usual via the office and you will be transferred to staff’s mobiles if the team member you want is homeworking that day. Also use the central emailus@centurionvat.com email as all staff have access to this and can ensure your query gets attention. Full details of the Team can be found here.

Whilst meetings will be avoided this is an opportunity to use technology to stay in touch and in addition to group telephone conference calls, we can Face Time and/or video conference. Planned VAT training sessions are being converted into online delivery options for clients who have need of that support from us. Our key message in this extraordinary time is we are here to support on the VAT front as issues arise – just call.

Ever flexible, like you all I’m sure, we’ll be adapting to the situation as it changes and taking account of our responsibility to our colleagues, our clients and to the wider society.

Do take care everyone.

From all the Centurion Team: Louise, Liz, Andrea, Julie RS, Mike, Merle and Julie W.