Urgent: Only One Month Left!
Did your client take advantage of the agreement by HMRC to allow deferral of the payment of VAT due on VAT returns submitted early last year?
If so and they haven’t already repaid the deferred VAT, then have they signed up for the VAT Deferral New Payment Scheme to allow them to repayment the deferred VAT in monthly instalments?
If they haven’t then they urgently need to do so as they only have until 21 June 2021 to sign up for the Scheme.
If they are not signed up by that date and haven’t paid up in full or made arrangements wih HMRC to pay in full by 30 June 2021, they may incur a 5% penalty or interest.
The link below is to the HMRC webpage that provides information on signing up for the Scheme, how the Scheme will work and access to the online application.
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