Corona – Companies House Deferrals and Tax

Companies House filing deadline extensions and tax deferrals

As part of its measures to reduce the economic impact of the Coronavirus crisis, the Government has announced deferrals to a number of HM Revenue & Customs (HMRC) and Companies House deadlines to ease the strain on businesses and self-employed individuals.

Our Solutions Partner Moore Thompson Chartered Accountants provide this guide:


VAT payments have been deferred by three months from 20 March 2020 until 30 June 2020. During this period, businesses will not need to make VAT payments to HM Revenue & Customs (HMRC). However, businesses should continue to report VAT as usual.

Businesses will have until the end of the 2021 tax year to pay any liabilities that have accumulated during this period.  The deferral is automatic and businesses do not need to apply to be able to benefit from it.

However, you must cancel the direct debit manually with your bank immediately to make use of this deferment.

VAT refunds and reclaims will be paid by the Government as normal.

Income Tax

Income Tax Self-Assessment payments due on 31 July 2020 will be deferred until 31 January 2021.

HM Revenue & Customs (HMRC) has confirmed that all self-assessment taxpayers can benefit from an extension to the July payment date and not just the self-employed.

HMRC updated guidance on the July payments on account deferral to make it clear that it applies to all self-assessment tax payers, which means that anyone due to submit a self-assessment income tax payment on July 31 now has until January 31, 2021 – including those with rental and investment income.

This deferment is an automatic offer and it is not necessary to apply to benefit from it, but it is intended for those experiencing hardship as a result of the Coronavirus pandemic.

HMRC is urging that anyone who is still able to pay their second self-assessment payment by the July deadline should still do so if they can.

No penalties or interest for late payment will be charged during the deferral period.

Time to Pay (TTP) Arrangements

HMRC is making TTP arrangements available to any business that can show that all other avenues for financing have been exhausted.

For further guidance on TTP can be found on our COVID-19 Business Support Hub by clicking here.

Filing Accounts with Companies House

All companies must send their accounts, reports and confirmation statements to Companies House every year. If a company’s accounts are filed late, the law imposes an automatic penalty. But what if Coronavirus (COVID-19) has affected your company and you need more time to file your accounts? The government urges you to act before your filing deadline to avoid an automatic penalty.

If, immediately before the filing deadline, it becomes apparent that accounts will not be filed on time due to your company being affected by Coronavirus (COVID-19), you may make an application to extend the period allowed for filing. Find out how to apply for more time to file your company’s accounts.

Moore Thompson
Moore Thompson