The guidance on how to pay VAT payments deferred between 20 March and 30 June 2020 has been updated with an added section on ‘Correcting errors on your VAT returns relating to the VAT payments deferral scheme’, including information on how to defer any extra payments resulting from error corrections and HMRC VAT assessments.
If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can:
The online opt in process will be available in early 2021 and you must do this yourself.
Instead of paying the full amount by the end of March 2021, you can make up to 11 smaller monthly instalments, interest free. All instalments must be paid by the end of March 2022.
The scheme will allow you to:
To use this scheme you must:
If you opt into the scheme, you can still have a time to pay arrangement for other HMRC debts and outstanding tax.
Read the official government guidance here.
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