Deferral of VAT Payment
If you took advantage of the option to defer any VAT payments due between 20th March 2020 and 30th June 2020 then you will soon need to consider how you are going to settle the liability.
If you wish to make payment in full then this will need to be done by 31st March 2021. Alternatively, HMRC have set up a payment scheme whereby the deferred VAT can be paid in equal instalments, interest free. You must opt in to the scheme by 21st June.
Please see https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19 for further details.
Do of course let us know if you have any queries.
