VAT

Do you know you can spread VAT return payments?

Before he was properly famous, I saw John Bishop perform at a Christmas event in Manchester. He did well, and I thought he had potential.

The other thing I remember about that jolly afternoon was a ridiculous conversation with another guest on our table about a comedy show, based on the hilarious subject of VAT.

I once saw the famous magician, David Copperfield, in Vegas. He made 30 people disappear on stage. At the time I wondered if he could make VAT disappear.

Last year the Chancellor did make VAT disappear- temporarily. If you had a VAT return to pay between March 20 and June 30 it vanished in a puff of smoke.

However, the smoke is clearing now, it needs to be paid by March 31, 2021. The Government has generously stated that we can pay it any time. That’s nice!

What if you haven’t got it or don’t want to pay it all at once?

Well, they are introducing a payment scheme and you can apply to pay over a period up to 11 months.

The details haven’t been announced yet, so that thrill is still to come.

After he became famous I met John Bishop at a Christmas charity event.

We had a very interesting discussion about VAT. At the end, he didn’t offer to keep in touch. I often wondered why …

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