HMRC has announced that over half a million businesses who deferred VAT payments last year can now join the new online VAT Deferral Payment Scheme to pay it in smaller monthly instalments.
Businesses will need to have deferred VAT payments between March and June 2020, under the VAT Payment Deferral Scheme. They will now be given the option to pay their deferred VAT in equal consecutive monthly instalments from March 2021.
Businesses will need to opt-in to the VAT Deferral New Payment Scheme. They can do this via the online service that opens on 23 February and closes on 21 June 2021 , a Government Gateway account is required.
For further information and access to the scheme VAT DEFERRAL SCHEME