Coronavirus Legal Portal
Tax Payment Plans
The Government has announced a raft of measures to help businesses including extended time to pay and tax holidays.
Businesses will not have to make VAT payments due between 20 March and 30 June 2020. They will also have until 31 March 2021 to pay any tax that has accumulated during the deferral period. HMRC has confirmed that deferred amounts will not be subject to interest or penalties.
The Government has also announced an extension of the business rates holiday to all businesses in hospitality and retail sectors regardless of rateable value. This means retail outlets, pubs, cinemas and restaurants will pay no business rates for 12 months.
Additionally, a £25,000 grant will be provided to retail, hospitality and leisure businesses operating from smaller premises, with a rateable value between £15,000 and £51,000.
These grants which are non-repayable, are available by applying to your local council.
HMRC has put routine tax compliance checks on hold currently, although the work of its Fraud Investigation Service will continue.
The First-tier Tax Tribunal put all proceedings in the ‘standard’ or ‘complex’ category on hold until 30 June for proceedings received by the tribunal before 24 March.
However, this will inevitably lead to a significant backlog in outstanding tax disputes.
Our tax experts are here to help your business. We will explain what measures you can take now to ensure that your tax burden is minimised. We can liaise with HMRC on your behalf if a revised tax payment plan is necessary to sustain your business and we can also mitigate this against and tax refunds due.
Contact us now for advice on the legal considerations involved in protecting you, your family and your business from the impact of coronavirus.
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“All round brilliant team at OGR. After being badly let down by another solicitor, Priti Shah sorted our parents’ probates quickly and efficiently. She is very knowledgeable and on the ball and structured things in such a way she saved us lots of money. We also had conveyancing done by Ben Menaham which was smooth and hassle free and overseen by Michael Stock. Thank you.” – Monica
“A big thank you to Susan Bernstein for her help and support during my redundancy process, you made the legal part stress free and easy to follow. I fully trust your work and will recommend your services in the future.” – Meital
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“I owe you a great debt of gratitude for the kind, helpful, empathic way you dealt with me and went about your business at a time in my life when I was suffering huge emotional pain. I did not really understand what was happening to me but you did, and your advice was invaluable”. – Stephen Wiser
“I called you with a difficult situation and within 30 minutes you had addressed the main issue and very clinically identified what needed to be done. Your attention to detail and your work approach are of such a high standard that i have no doubt whatsoever that any client you deal with will only have good things to say. You are a true ambassador to your firm and your profession, with the care you show and advice you give. I would like to thank you again for the wonderful job you did at such short notice and i have no hesitation in using your services again and recommending your firm.” – Meir
“ We completed our home move in June, beating the Stamp Duty deadline by 4 days, and were extremely satisfied with the way the whole selling and buying process was handled by Robert Rosenberg. He was super efficient and communicated with us constantly throughout the process. We highly recommend him. and OHR Stock Denton, to anyone looking for a painless and stress-free experience. ” – Colin
“Winston Kan & Michael Stock of OGR Stock Denton LLP have been a great support throughout the process and Winston has demonstrated the highest levels of professionalism and genuine care throughout this difficult process. I highly recommend these lawyers, they are very attentive and honourable.” – Aziza
“I would like to say a huge thank you to Winston Kan of OGR Stock Denton LLP for the outstanding work he did on my car accident case. He supported me and my family through the long and exhausting process. There were times when I was ready to give up but he patiently and supportively guided me all the way. All the best wishes from me and my family.” – Hana
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