HMRC Is Shite

HMRC Is Shite
Dedicated to the taxpayers of Britain, and the employees of Her Majesty's Revenue and Customs (HMRC), who have to endure the monumental shambles that is HMRC.

Thursday, 11 August 2016

A Question of Trust


In the move towards universal digital tax accounts for business, HMRC is trying to force companies to provide bank details on their corporation tax returns.

Although the majority of businesses submit their corporation tax return online, most automatic repayments of corporation tax are made by cheque rather than by electronic payment. CCH Daily notes that the latest research for HMRC shows that businesses on the whole do not provide their bank details when the requirement is not mandatory.

Why therefore would it be an issue if HMRC were to insist that businesses provide bank details.

Sadly it comes down to trust, or rather a lack of trust about what HMRC might do with those details.

Agents are concerned that once HMRC had been provided with bank details ‘they could use them to take future payments without seeking permission’, and there are also concerns about data security of online payments.

Do you trust HMRC with your bank details?

Tax does have to be taxing.

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4 comments:

  1. HMRC are untrustworthy and certainly cannot be trusted to adhere to data protection legislation. Unless it is made mandatory (at which point everyone should write complaint to their local MP) best advice is do not provide your bank details to HMRC.

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  2. Why is this such an issue when most of those same companies will already have given HMRC the same bank details to take DD's for VAT due from them?

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    Replies
    1. The issue really comes down to if you don't have to give the untrustworthy HMRC bank details, then do not do so. Yes VAT registered companies details are all ready with HMRC for DDs, that's a risk they've had to take, but not all companies are within the scope for VAT...

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  3. How would HMRC be able to do this? Please explain how this would technically be possible.

    ReplyDelete