Normally, payments to HMRC or National Insurance must be made regularly, or they could face late payment charges. To avoid late payment charges, it is sometimes possible to defer payments. An example of this is a business having to make VAT payments to HMRC, but being unable to due to unforeseen financial hardship. During the start of the early 2020 Coronavirus pandemic, HMRC agreed to defer VAT payments to help businesses stay afloat. In the UK, the terminology around deferrals usually applies in the context of your local authority. Repayment pauses to banks or your mortgage, for example, are known as payment holidays.
However, there is a similar term in UK terminology called a deferred payment agreement. Your local government must first assess whether you are eligible to enter a deferred payment agreement, which is something you can apply for if you have to enter a care home – it is not for businesses nor the self employed.