Many companies will have taken advantage of the VAT payment deferral scheme which the government introduced during the pandemic.
The deferred liabilities will largely have all now been paid, but cashflow remains a concern for businesses given the current state of the economy, and with inflation and interest rates still relatively high, as well as continued global supply chain issues caused by a number of factors.
Whilst there are currently no general deferrals (like we saw in 2020), there are a wide range of opportunities for businesses to improve their VAT cashflow, some more general in nature and others applicable to specific sectors and circumstances.
Source Saffery
