In The News
Last month we told you about the New Payment Scheme for any VAT liabilities that were deferred from the first half of last year. Even if you don’t decide to opt into this scheme you must take some action before the end of June, as the Budget has introduced a 5% surcharge for any liabilities still outstanding at 1 July 2021. This replaces any normal surcharges that would apply.
You have three options to avoid this surcharge:
The only option you don’t have is to do nothing, as a 5% surcharge on an average dealer’s VAT liability could prove costly.
If you would like advice on how you should proceed please get in touch with us at Michelle.Malone@ase-global.com
Or visit our LinkedIn page for more info:https://www.linkedin.com/company/ase-plc/