• Greenline Accountants

VAT DEFERRAL REPAYMENT SCHEME DEADLINE 21st JUNE

The deadline for either paying, or arranging a repayment schedule for the COVID VAT Deferral relief scheme, which allowed businesses to defer VAT due between March 20 and June 20, is now upon us, with 21 June 2021 being the deadline to make arrangements with HMRC if you have not done so already.


https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19


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 installments to spread the cost. This portal is now due to close on 21 June 2021.