New HMRC Bank accounts for VAT payments
Current Issues | VAT | 15th September 2016
HMRC is in the process of switching all of its accounts from Citibank to Barclays but the move is not well publicised. We have had several examples where clients have effected a transfer in good time to pay their quarterly VAT liability only to have the payment rejected because the account has been closed.
HMRC had undertaken to contact affected businesses in advance but very few have received anything on the subject and those that did thought it was bogus!
So before making any payments to HMRC click here to make sure that the bank details have not changed.
Specific advice should be obtained before taking action, or refraining from taking action, on the basis of this information.