Support for businesses through deferring VAT- COVID-19
Over the last year, WestWon have been implementing a business plan to launch a new VAT division. Investing time into the production of marketing content to let businesses know that financing VAT is an option. Writing a range of informative blogs, fact sheets, videos and brochures. WestWon has built an online presence with the use of this content alongside the creation of a dedicated VAT Loan page and Google advertising to drive traffic and build awareness. The team received a fantastic response from our customers and on boarded a range of new clients.
Governments- Support for businesses scheme
However, with the current Covid-19 situation the government have introduced a deferral which means businesses do not need to pay their VAT from 20 March 2020 until 30 June 2020. Taxpayers will be given until the end of the 2020 to 2021 tax year to pay any liabilities that have accumulated during the deferral period.
With businesses going through these uncertain times it is good to see that the government are putting initiatives in place to help.
How will this impact WestWon?
This of course means that WestWon’s VAT Loan service is something that will no longer be required for this period. Naturally, this is a shame due to the time and money invested.
Despite this, we do not regret the decision to setup this division. We have on boarded some brilliant clients before this period and hope to continue to do so after. We would like to help take the pressure off businesses when the governments scheme can no longer be in affect and help pay back the deferred VAT payments that will still need to be made.
Wishing all businesses the best of luck in these uncertain times. For further information on the deferred VAT payments and how we can help finance your VAT down the line, please get in touch. A member of the team would be happy to take your call. Give us a call on 01494 611 456 or send an email to email@example.com.