As from 16th December 2011 HMRC has been accepting Faster Payments (FPS):
"From 16 December 2011 HM Revenue & Customs (HMRC) will be able to accept payments made using the Faster Payments Service. This will allow you to make faster electronic payments, typically via internet or telephone banking, enabling them to be processed on the same or next day."
Except that, according to the ICAEW Tax Faculty on 4th January:
"When you file a VAT return online, the HMRC website generates an on screen acknowledgement to confirm receipt. The message currently given by this response says:
‘Please note: HMRC does not operate the Faster Payments Service (FPS), which is offered by some banks. Electronic payments will normally take three bank working days to reach the HMRC account.’
The Tax Faculty has been in touch with HMRC about this and we can confirm that our news story is correct, HMRC does now accept Faster Payments. The message in the HMRC website confirmation response will be amended as soon as possible."
Oh well, nearly there!
Tax does have to be taxing.
UK EXPATS: Reduce tax on UK Pensions
HMRC QROPS provider. Unlock your UK pension and access a 25% lump sum today.
Quote ID code "ABC" when contacting a QROPS specialist.
Professional Cover Against the Threat of Costly TAX and VAT Investigations
What is TAXWISE?
TAXWISE is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.
To find out more, please use this link Taxwise
Tax Investigation for Dummies, by Nick Morgan, provides a good and easy to read guide for anyone caught up in an HMRC tax investigation. A must read for any Self Assessment taxpayer.
Click the link to read about: Tax Investigation for Dummies
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"