Business owners urged to update HMRC account details

HMRC change account details for payments...

Kinsella Tax Investigations would like to remind all taxpayers to double-check any account details they may use to settle their tax liabilities to ensure they do not suffer from penalties and surcharges.

HMRC have recently moved their banking services from the Bank of England to Citi and Royal Bank of Scotland during 2009.

As a result of this, many taxpayers may find they have incorrect details saved as HMRC’s account numbers and sort codes are not different.

Any taxpayer who has stored old HMRC account details in their banking systems will need to update them.

HMRC have declared that any payments paid into the old accounts will be returned during 2010 but may, in turn, lead to late payment penalties, interest and surcharges.

If any taxpayer settles tax liabilities via Direct Debit, they will be unaffected.

If you are unsure as to whether you hold the correct details then please contact HMRC to check.

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