Cookie Consent by Free Privacy Policy Generator Paying your deferred VAT due to COVID-19 - MPH Accountants & Business Advisors
Paying your deferred VAT due to COVID-19

News

Paying your deferred VAT due to COVID-19

If you deferred your VAT payments due to coronavirus between 20th March and30th June 2020 and still have payments to make, you can either pay in full on or before 31st March 2021 or opt-in to the new VAT deferral payment scheme which launches in 2021.

If you pay the deferred VAT in full by 31st March 2021, you do not need to contact HMRC. 

Alternatively, by opting-in to the new payment scheme, you can make up to 11 smaller monthly instalments, interest free. All instalments must be paid by 31st March 2022.

In order to use this scheme, you must still have deferred VAT to pay, be up to date with your VAT returns and be able to pay the deferred VAT by Direct Debit.

Please be aware you cannot opt-in yet, the online process will be available in early 2021. You must opt-in yourself, we are unable to do this for you.

If you are still unable to pay and need more time, please contact HM Revenue and Customs as soon as possible.

If you have any questions or would like to discuss the above in more detail, please contact Jake on 01227 277667 or by emailing him at j.mackenzie@mphaccountants.co.uk.

Up next

VAT Penalty Charges

Read Article
VAT Penalty Charges