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HMRC new deferred VAT payment scheme

Last year HMRC allowed the deferral of payment for VAT liabilities due between 20th March and 30th of June 2020. This liability was due to be paid by the extended deadline of 31 March 2021.

Due to the ongoing economic impact of the pandemic, HMRC have introduced a new VAT deferral payment scheme for these liabilities that were deferred last year. The new scheme will open today, the 23 February 2021 and the last date that you can sign up is 21 June 2021.

The new scheme lets you:

·         pay your deferred VAT in equal instalments, interest free

·         choose the number of instalments, from 2 to 11 (depending on when you join)

Due to the way the scheme is set up, we are unable to sign you up on your behalf and you will need to login using the below link and join the scheme yourself. To sign up you will need to know your Government Gateway login information, details to set up a direct debit and the amount of deferred VAT that you owe.

In order to have the maximum number of 11 instalments available to you, you will need to sign up by 19th March 2021.

Full details of the scheme and a “join the scheme now” button can be found here

If you have any queries about the scheme please call Liam on 0115 9508 887.