Businesses 'left unable to pay tax' by HMRC
29 June 2016
HMRC changed its bank account details without telling businesses and as a result, large tax payments from a number of businesses have bounced and remain uncollected, leaving firms with late payment penalty notices and no information as to how to pay.
HMRC changed its bank account details for firms which pay tax using IBAN – a method mainly used by overseas businesses but also by some domestic companies. While it stated in an employer bulletin last year that affected businesses would be notified of the new details, it seems some were not. This comes as HMRC is embarking on a major cost-saving exercise which will see all 170 of its offices across the country being replaced by 13 new regional tax centres.
Those firms which did receive notification letters said that they were so poorly worded and amateurish, that they assumed it was bogus and discarded the letters.
HMRC has advised anyone experiencing difficulties in making payments to contact them immediately.