VAT Deferral Print

Businesses were able to defer their VAT payments that were due between 20 March 2020 and 30 June 2020 until 31 March 2021. Further assistance is available to businesses via the VAT deferral new payment scheme which opened on 23 February 2021 and will remain open until 21 June 2021 whereby the deferred VAT may be paid by instalments. The number of instalments depends on the date of joining the scheme ranging from 11 where the business joined by 19 March 2021 reducing equally over time to 8 where the business joins by 21 June 2021. Businesses can choose to pay the deferred VAT in fewer instalments, and no interest will be charged on the instalment payments, provided they are paid on time. If the business needs extra help then it should contact HMRC on 0800 024 1222 by 30 June 2021. In the event that extra help is agreed, no interest will be charged on payment made on time under the agreement.

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