Revenue and Customs: Debts
(asked on 8th February 2021) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate his Department has made of the revenue owed to HMRC by businesses as a result of the deferral of VAT payments due to the covid-19 pandemic.
This question was answered on 11th February 2021
The VAT payments deferral scheme enabled businesses to defer approximately £34bn of VAT payments that were due between 20 March and 30 June 2020.
Businesses can pay their deferred VAT in full by the end of March 2021 or spread payment from March 2021 across smaller monthly instalments. Further details are available at www.gov.uk/hmrc/vat-deferral.