Tax & Accounting News
Payments will reach HMRC faster
03/02/2012
Electronic payments made to HM Revenue and Customs (HMRC) will now arrive quicker thanks to the Faster Payments Service.
Previously, payments made using a taxpayer’s own bank’s faster payments facility could still take around three days to reach HMRC.
The new system means that HMRC will receive payments made via internet or telephone banking either on the same or next day.
Anyone wishing to pay using this service should first contact their bank or building society to confirm whether it is available to them and what limits may be in place on the payments they can make at any one time.
