Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many and what proportion of VAT registered businesses have taken advantage of the deferral of VAT payments due between 20 March and 30 June 2020; and what estimate his Department has made of the amount of VAT that has been deferred.
Approximately 600,000 businesses have deferred £34bn of VAT due to COVID-19. This equates to approximately 26% of the 2.3 million businesses registered for VAT.