Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the amount of interest accrued by businesses (a) in total, (b) in deferred VAT payments and (c) in deferred corporation tax payments as a result of covid-19 business support measures.

No interest has been accrued as a result of COVID-19 related tax payment deferral schemes.

As part of its measures to support businesses through COVID-19, the Government announced on 20 March 2020 that businesses may defer VAT payments, interest free, to help with their cash flow at a difficult time. No interest has been accrued by taxpayers in respect of VAT due between 20 March and 30 June 2020.

Further information can be found at www.gov.uk/hmrc/vat-deferral.

There was not an option to defer corporation tax payments, and therefore there was no interest accrued on such payments.