Matthew Upex from Moore Thompson discusses online VAT Deferral New Payment Scheme Published: 12:00, 06 March 2021 Businesses that deferred VAT between March 20 and June 30, 2020 now have until March 31, 2021 to either repay the tax due in full or set up repayment instalments under the online VAT Deferral New Payment Scheme. The scheme went live on February 23, 2021 and will close on June 21. It allows businesses with deferred VAT to spread their outstanding debts over up to 11 smaller instalments. The length of repayment and the number of instalments required will depend on when a business joins this new scheme. Matthew Upex Before they can apply, businesses need to be up to date with VAT return filings for the last four years and correct any errors on existing VAT returns, as soon as possible.