If you took advantage of the VAT deferral scheme last year, your deferred VAT is due for payment at the end of this month (31st March 2021).
If you are struggling to pay this amount in full, you can sign up to the VAT Deferral New Payment Scheme. This scheme is open now and available to sign up to until 21 June 2021. This scheme lets you pay deferred VAT in interest free equal instalments. The month you join the scheme will determine the maximum number of instalments that are available to you.
You will be eligible to join the scheme as long as you:
Are up to date with all VAT returns
Join by 21 June 2021
Pay the first instalment when you join
Pay your instalments by Direct Debit
Should you have any queries or concerns regarding paying your deferred VAT, or signing up to the VAT Deferral New Payment Scheme, please do get in touch.