Self-Serve VAT Payment Plans Launched By HMRC
22nd June 2023
As of 31st May 2023 certain VAT-registered businesses are now able to arrange VAT payment plans directly with HMRC via their online account.
HMRC – Set Up A VAT Payment Plan
Businesses will be eligible to set up the payment plan online if:
- the latest VAT return has been filed;
- the total amount of VAT owed to HMRC is £20,000 or less;
- the plan is arranged within 28 days of the payment deadline;
- there are no other current payment plans or debts outstanding with HMRC; and
- the debt is expected to be paid off within 6 months.
Businesses using the cash accounting or annual accounting schemes for VAT will not be eligible to set up a payment plan using the online service. If a business makes VAT payments on account then they too will be ineligible for the service.
Businesses that are not eligible to set up a plan online should contact HMRC to arrange one if required.
If you would like more information on this topic, please do contact your local Whitings Office.
Disclaimer - All information in this post was correct at time of writing.
