VAT deferral new payment scheme closes on 21 June

The online portal for the new VAT payment scheme closes on 21 June 2021.

More than half a million businesses deferred £34bn in VAT due between March and June 2020 under the payment deferral scheme. They had until 31 March to pay the deferred VAT or if they could not afford to do so they could join the new scheme and pay by monthly instalments.

HMRC data to 30 April reveals that 228 850 businesses that deferred their VAT in 2020 have already paid their VAT in full. This along with instalments already made under the new payment scheme and other payment plans totals £15.1bn. Since the online service opened on 23 February 2021 another £11.5bn has been committed to future instalment payments by 134 627 businesses.

Eligible businesses that are unable to use the online service can ring the HMRC coronavirus helpline on...