VAT payments due between 20 March and 30 June 2020 could be deferred as part of HM Government's COVID-19 support measures.
Originally, the scheme allowed you to defer payment until 31 March 2021. However, more recently HMRC have announced that you can opt-in to a payment scheme, allowing you to settle the amount owed over 2 to 11 equal monthly instalments. Payments will be free of penalties and interest, with the first instalment due before the end of March 2021.
The scheme is not open to opt into yet, but agents such as Berg & Williams cannot opt in on behalf of clients. Clients who want to use this scheme must ensure they have an online Government Gateway account connected to their VAT account. If you cannot login to your VAT account, you should act now to make sure you are ready.
You can find out more fro HMRC here: https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19
If you need assistance, please contact your normal Berg & Williams contact.
