In recent weeks, HMRC has issued a number of updates to the COVID-19 VAT payment deferral scheme.
If you deferred your VAT payment which was due between 20 March 2020 and 30 June 2020 and still have the balance to pay, you can, now join the new VAT deferral new payment scheme.
The new payment scheme opened on 23 February 2021 and will close on 21 June 2021. The scheme lets you:
- pay your deferred VAT in equal instalments, interest free; and
- choose the number of instalments, from 2 to 11 (depending on when you join)
To use the online service, you must:
- still have deferred VAT to pay;
- be up to date with your VAT returns;
- opt in before the end of March 2021; and
- pay the first instalment when you opt in.
You will be able to apply for this scheme through your business Government Gateway tax account as unfortunately on this occasion HMRC is not allowing agents to do this for you.
If you opt into the scheme, you can still have a time to pay arrangement for other HMRC debts and outstanding tax.
For more information, please contact the RB+ Group on 02895320155 or email firstname.lastname@example.org