The Faster Payments website states:
"The service allows customers to make payments over the phone or through online banking all day, every day, and be assured that they reach their destination almost at the touch of a button."
Unfortunately HMRC have issued a rather confusing caveat about speed of payments. As per Stuart:
"HMRC suggest that a payment made on Wednesday 22 isn’t credited until Thursday 22 (whichever day that is!). I’m not certain if they do agree that the money will be credited on Wednesday 22 or they disagree and it will not be credited until the following day, i.e. Thursday 23"
Helpfully, HMRC then state that:
Anyone care to clear up the confusion?"Late payment penalties are wholly avoidable by allowing enough time for cleared payments to reach us by the payment deadline."
Tax does have to be taxing.
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