Share this content

Tax Payments Deferral

VAT due for qtrs to Mar 20 spread over 21 mths from Mar2021 but what about I Tax also due 31 Jan2021

Didn't find your answer?

HMRC has the following guidance on its website re Income Tax Payments due 31 Jan 2021 - 
"Customers who wish to set up their own self-serve Time to Pay arrangements must meet the following requirements:
they need to have no: a) outstanding tax returns b) other tax debts c) other HMRC payment plans set up d) the debt needs to be between £32 and £30,000 e) the payment plan needs to be set up no later than 60 days after the due date of a debt."
Does this mean that a taxpayer may not defer both the VAT payment due last April AND his Self-Assessment Bill due 31 January 2021? If there is further on HMRC's website I have not been able to spot it. 

Replies (3)

Please login or register to join the discussion.

By Duggimon
19th Nov 2020 12:05

Maybe, but maybe not, I would suggest to those in need of a time to pay arrangement that they contact HMRC and ask.

Thanks (0)
By Silver Birch Accts
19th Nov 2020 13:54

It is my understanding that Time to Pay relates to Income Tax only. The VAT scheme will be separate with details of how to apply being announced in January. Postponed VAT can be paid from April 2021 to March 2022.

Thanks (1)
By gillybean04
19th Nov 2020 17:28

"Customers who wish to set up their own self-serve Time to Pay arrangements"

It means they can't set it up themselves using online services and must contact HMRC to discuss.

Thanks (0)
Share this content