February 10th, 2021.

HM Revenue & Customs has announced that businesses can register for the VAT deferral new payment scheme from the end of February 2021.

The latest Employer Bulletin from HMRC outlines that firms who deferred VAT due from the 20th of March to the 30th of June 2020 and still have payments to make, can opt into the VAT deferral new payment scheme to pay deferred VAT over a longer period.

The VAT deferral new payment scheme is expected to open on the 23rd of February and close at the end of June 2021. The scheme will allow for up to 11 smaller monthly instalments to be made, interest free.

Further information is available HERE. Those wishing to opt into the scheme will be able to do so without the need to call HMRC.
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