Covid-19: Government unveils winter economy plan

Newsletter issue - October 2020

Chancellor Rishi Sunak has unveiled the Government's winter economy plan, providing an update on current coronavirus support measures for individuals and businesses, and announcing the launch of a new Job Support Scheme.

Key points of the statement include:

With regard to the news that taxpayers can pay deferred VAT and self-assessment liabilities in instalments, it should be noted that unlike with the original deferments, instalment plans are not automatic and must be applied for. For VAT, the Government has confirmed that an 'opt-in' process will be in place by early 2021. For self-assessment, taxpayers can either use HMRC's self-service time-to-pay facility or contact HMRC's Time to Pay Self-Assessment helpline on 0300 200 3822.

Further details can be found in the Winter Economy Plan. https://www.gov.uk/government/publications/winter-economy-plan/winter-economy-plan

The Chancellor's speech can be found at Chancellor of the Exchequer, Rishi Sunak on the Winter Economy Plan. https://www.gov.uk/government/speeches/chancellor-of-the-exchequer-rishi-sunak-on-the-winter-economy-plan

 

 

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