Deadline approaching for deferred VAT payments

Businesses that deferred VAT payments that would normally have been due between 20 March and 30 June 2020 are required to pay the outstanding amounts to HMRC by 31 March 2021 – Wednesday next week.

Alternatively, you can apply for a further postponement of the payments by joining the VAT deferral new payment scheme and setting up monthly instalments. However, please be aware that to use this online service you must join the scheme yourself, an agent cannot do it for you, and the deadline for joining is 21 June 2021.

More details of the scheme can be found here: https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19.

If you need any further help or guidance, please contact our VAT Consultant, Alison Sampson, on alisonsampson@knilljames.co.uk.