The VAT payment holiday window ends on 30 June, and normal payment dates resume from 1st July. What should you do if you can’t pay the VAT due by 7th July, because of the impact of Covid-19 on your trading situation?
The ongoing lockdown may be the catalyst for many limited company owners to change their business model in order to survive or to create a simpler way of working. One option is to disincorporate – in other words, dissolve the limited company and, if the business is still viable, operate as a sole trader instead.
It’s safe to say that payday is the time of the month that employees look forward to. But there are hidden processes and vital security measures that are necessary to make this coveted day run smoothly.