HMRC issues bank detail warning

Date: 9th August 2011

Taxpayers have been warned that they could face penalties for late payments if they do not pay attention to recent changes at HM Revenue & Customs (HMRC).

The department has announced that with effect from today (August 9th) it has changed its bank accounts.

As such, taxpayers will no longer be able to use the Bank of England details to settle their accounts.

"Any payments directed to the Bank of England accounts after this date will be rejected automatically by the banking system and returned to your bank," HMRC commented.

"This will result in a delay in getting your payment to the correct account and carries with it the risk of you incurring late payment penalties and interest if your payment does not reach the correct account by the payment due date."

The department has urged taxpayers to use the correct bank account information in order to ensure swift payments.

Posted by Thomas Fletcher