HMRC have confirmed that businesses that deferred VAT payments between March and June 2020 will be eligible to join the new scheme where they can pay the deferred VAT in smaller monthly instalments. This will now give businesses the option to pay their deferred VAT in consecutive monthly instalments of equal amounts from March 2021.
How can businesses opt-in to the scheme?
Businesses can opt-in to this new payment scheme online here. This closes on 21 June 2021. Businesses can spread their payments with 2 to 11 equal monthly instalments, interest-free. The sooner your business opts in the more instalments will be available to spread the cost further.
How can we help?
At Hawsons we have a dedicated team of VAT experts at our offices in Sheffield, Doncaster, and Northampton. If you have any questions about the contents of this article please contact Tony Nickson
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