Be aware about closing date for VAT Deferral New Payment Scheme
Businesses that deferred VAT payments last year have not much time left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme, HMRC has confirmed.
The online portal for the new payment scheme will close on 21 June 2021.
Over half a million businesses deferred £34 billion in VAT payments due between March and June 2020 under the VAT Payment Deferral Scheme. Businesses had until 31 March 2021 to pay this deferred VAT or, if they could not afford to do so, they could go online from 23 February to set up a new payment scheme and pay by monthly instalments to spread the cost.
‘The new payment scheme is part of the government package of support worth over £350 billion to help protect millions of jobs and businesses during the pandemic and as we emerge on the path to recovery.
‘HMRC will continue to do all we can to help businesses as they re-open and re-build’.
If you need any more information about this please contact Aggie and Angel Bookkeeping on 07867129210 or email: [email protected]