HMRC now accepts Faster Payments

Good news from HMRC is rare, so I am delighted to report that they are now accepting payments made using the Faster Payments Service.

Which means we can stop having to work out how many “banking days” there are before our VAT/tax is due. Instead we can just pay it on the due day (within reason) i.e. don’t leave it until one minute to midnight because that will not work.

The Faster Payments service enables banks to process internet and phone payments 24 hours a day, seven days a week, normally within a couple of hours. In the past, these payments have taken around three days to clear.

 

 

Posted in Banks, CIS, Class 1, Class 4, Corporation tax, HMRC, Income tax, National Insurance, PAYE, VAT by , December 19, 2011 13:29

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