I can already see from my list who wont make it. Not as lockdown is for another 2-3 weeks.
The money for many self employed will come too late, the loans arent coming through, the directors wont get much and of course landlords are not included, I know about the non tax (loan etc) measures before anyone reminds!.
This week I'm going to send an email out to all clients reminding them of what measures are in place. Importantly advising that HMRC are automatically deferring collection of all other taxes as well - again something that hasnt really been made known.
However, I will be stressing that deferment of tax is really only storing up more problems for later in the year and they should pay something (anything!) if they can.
Have a look at this article (which some of you might have missed as the title wasnt that eye catching and not just about TTP arrangments!) for more detail:
Jennifer Adams is Consulting Editor of AccountingWEB and is a professional business author specialising in corporate governance and taxation. She runs her own accounting and consultancy business with offices based in Surrey and Dorset.