Businesses who deferred their VAT payments that were due between 20 March and 30 June 2020 were due to make these payments in full to HMRC by 31 March 2021. Under the VAT Deferral New Payment Scheme, businesses can now opt to spread the deferred payments in equal instalments up to 31 March 2022.
Businesses can make payments as normal by 31 March 2021 or make Time to Pay arrangements with HMRC if you need more tailored support. Current VAT payments remain due on the normal due date.
We are here to help so please contact us if you wish to discuss any of the above.