As part of their move towards introducing digital tax accounts, HMRC have made the decision that all rebates for personal tax accounts will be made directly to the customers bank account.
The intention being that refunds will take two to five days to be paid electronically, rather than waiting two weeks for a cheque to arrive, which is HMRC’s current method.
“This new service puts customers in control of their tax affairs allowing them to claim any money owing to them immediately,” said Ruth Owen, director-general of customer service at HMRC. “They can claim at a time that suits them, from a device of their choice, securely, and without needing to wait for a cheque in the post.
“Now customers will have access to funds cleared in their account within three to five days rather than the two weeks it would typically take for a cheque to be issued, banked and cleared.”