Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to offer small business a payment holiday or longer term repayment scheme for VAT contributions during the covid-19 outbreak.
HMRC already offer help to businesses struggling to meet their VAT payments with arrangements such as Time to Pay. HMRC also have a dedicated helpline for those who cannot pay because of the coronavirus.
In light of the COVID-19 outbreak, the Chancellor has pledged a range of measures to help business through the crisis, including grants, loans and relief from business rates worth more than £300 billion. The Chancellor will continue to review and make further announcements as events unfold.