From 1 February 2016, HMRC will change bank to Barclays in the UK. Tax, including VAT, payments due from that date will need to be paid into a new Barclays account…
From 1 February 2016, HMRC will change bank to Barclays in the UK. Tax, including VAT, payments due from that date will need to be paid into a new Barclays account.
Where payment of UK tax, including VAT, is being made from an overseas bank account, a fresh IBAN reference will need to be used. Unfortunately, HMRC has only committed to providing these fresh bank details before February 2016. This is not too helpful for those paying from overseas bank accounts, not least because VAT payments for December 2015 have to be with HMRC no later than 5 February 2016 (cleared funds).
Steve Botham will provide an update as soon as available.
Steve Botham
Covertax Chartered Tax Advisers
