HMRC has produced new guidance in relation to the Chancellors announcement yesterday that these businesses that deferred VAT payments from 20 March to 30 June 2020 will not now have to pay the full amount by the end of March 2021. Under the arrangements announced yesterday, businesses will have the option to make smaller interest-free payments up to the end of March 2022. To take advantage of this, businesses will have to opt-in to the new arrangements.
