ARTICLE · 31 MAY 2016

Weekly Tax Update - 23 May 2016

Smith & Williamson

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HMRC recently changed their bank account arrangements to Barclays for those paying from overseas, although it seems that the details have not been widely published.

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Smith & Williamson

1.General news

1.1 Payments to HMRC from overseas

HMRC recently changed their bank account arrangements to Barclays for those paying from overseas, although it seems that the details have not been widely published. Advance notice of the change was included in a few HMRC publications, but this excluded international bank account number (IBAN) references. It seems that a number of overseas businesses were not aware of the new references and have continued to make payments to the former HMRC bank account with Citibank, resulting in the issue of late payment penalty notices.

The HMRC accounts for payments made from an overseas account for the following heads of duty have been changed to:

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