VAT deferral new payment scheme launched
- 26th February 2021
HMRC has opened its new VAT deferral payment scheme. Launched on 23 February, you can now opt-in and register to make up to 11 monthly smaller payment instalments, interest free.
- If you join the scheme by 19 March 2021, you can spread your payments over 11 months.
- If you miss this deadline, you have until 21 April 2021 to benefit from 10 monthly instalments
- 19 May 2021 deadline = 9 monthly instalments
- 21 June 2021 FINAL deadline = 8 monthly instalments
More details about the scheme and what you need to know can be found here.
To opt-in to the scheme, there is no need to call HMRC. You can simply visit the HMRC portal here.
For any business that needs more help to pay their deferred VAT, the should contact HMRC. If you can pay your deferred VAT, you should do so by 31 March 2021.
Any news or resources within this section should not be relied upon with regards to figures or data referred to as legislative and policy changes may have occurred.