HMRC have this week launched their ‘VAT Deferral new payment scheme’ where any businesses who deferred VAT payments for the VAT quarters ending 29 February/31 March/30 April 2020 can join in order to pay any outstanding liability in relation to these deferred periods, in monthly instalments.
Businesses will need to opt-in to the VAT Deferral New Payment Scheme. They can do this via the online service that opens on 23 February 2021 and closes on 21 June 2021.
The new payment scheme will continue to help the economy recover by enabling businesses, impacted by the pandemic, to manage their business cash flow at a critical time.
Please find below a link to the relevant guidance and online registration details.