VAT Direct Debits Should be Cancelled

UNITED KINGDOM / AGILITYPR.NEWS / March 25, 2020 / Thousands of businesses that pay their VAT by Direct Debit should consider cancelling them immediately say leading accounting and tax advisory firm Blick Rothenberg.

 Alan Pearce VAT partner at the firm said: “The Chancellor’s announcement that VAT payments are being deferred was very welcome news, but many businesses need to ensure that they have instructed their banks to cancel any upcoming direct debits until 30 June.” 

He added: “If they haven’t cancelled them they should do so now bearing in mind that banks will normally require at least one working days’ notice to cancel.”