If you deferred VAT payments that were originally due between 20 March and 30 June 2020 you can pay now or get ready to opt in to the VAT deferral new payment scheme. If you deferred your VAT and still have payments to make, you now have several options. You can either:
- pay the deferred VAT in full on or before 31 March 2021 – if so you do not need to contact HMRC
- opt in to the VAT deferral new payment scheme when it launches in 2021
- contact HMRC if you need more help to pay
You cannot opt in to the new payment scheme yet. The online opt in process will be available in early 2021. You must opt in yourself, your agent cannot do this for you. Under the scheme, instead of paying the full amount by the end of March 2021, you can make up to 11 smaller monthly instalments, interest free. All instalments must be paid by the end of March 2022.
For further details visit www.Gov.uk