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(First published 23 February 2021.)
UPDATED WITH 20 MAY 2021 HMRC RELEASE - one month left to join the scheme.
VAT payments that were deferred between 20 March and 30 June 2020 can be made via a new VAT deferral payment scheme to spread the payments.
The scheme is now open.
If you deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make, you can:
You may be charged interest or a penalty if you do not:
The VAT deferral new payment scheme will be open from 23 February up to and including 21 June 2021.
If you’re on the VAT Annual Accounting Scheme or the VAT Payment on Account Scheme, you’ll be invited to join the new payment scheme later in March 2021.
The new scheme lets you:
To use the online service, you must:
The scheme is in addition to HMRC's Time to Pay arrangement for other tax debts.
The month you decide to join the scheme will determine the maximum number of instalments that are available to you. If you join the scheme in March, you’ll be able to pay your deferred VAT in 11 instalments or fewer.
Before joining, you must:
If you are experiencing issues with being able to pay deferred VAT or there are errors on VAT returns submitted that need correction, please contact your usual Bishop Fleming advisor.
Other government measures already in place to support businesses and workers during the coronavirus emergency can be found in our Business after COVID-19: Transition Knowledge Hub.