Time to pay

VAT that was payable between 30th March 2020 and 30th June 2020 could be deferred and paid before 31st March 2021. This can now be paid over 11 months during the 2021/22 tax year, in order to help businesses with their cash flow.

The July self assessment payment, which had been deferred until January 2021, can also be extended and paid in 12 instalments if under £30,000.

Both of the above measures do need to be agreed as part of a time to pay arrangement.