There are schemes to defer both the payment of VAT and income tax (under self-assessment), this video explains the broad terms of each, and why I would suggest there’s little benefit in deferring payment (where affordable).

For more information see: https://www.gov.uk/government/collections/financial-support-for-businesses-during-coronavirus-covid-19#support-for-the-self-employed

This represents our understanding of HM Revenue & Customs practice as at 12th May 2020.
This video is not intended to be personalised advice.
Tax advice not regulated by the Financial Conduct Authority.

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