Paying HMRC by the required deadline is vital if you want to avoid interest and/or a penalty charge. However, HMRC are making some changes to the way customers can make payments, so it’s important you take a look at which ways will no longer be accepted. This change will affect all businesses, including those which have just started up, and those that are already established.
HMRC will no longer accept the following forms of payment:
From 15th December 2017 the pay at the Post Office service will be withdrawn.
From 13th January 2018 HMRC will no longer accept payment by personal credit card
You can still pay using the following methods:
The same or next day by:
Online or telephone banking (including Faster Payments and CHAPS)
Debit/Corporate Credit card online or by telephone.
Allow 3 working days by:
Direct Debit (if you’ve set one up with HMRC before)
Allow 5 working days by:
Direct Debit (if you haven’t set one up with HMRC before)
Please note: If the deadline falls on a weekend or bank holiday, your payment will need to reach HMRC on the last working day before (Unless paying by faster payments or by debit or corporate credit card)
What does this mean for you?
If you’re already using one of the continued approved methods of payment, you don’t have to do anything!
If you make payment through the post office or by personal credit card, then you will need to change the way that you pay HMRC to one of the approved methods above by either the 15th December 2017 or the 13th January 2018 respectively.
Why are HMRC changing the ways that you can pay?
HMRC are aiming to make it quicker, easier and safer to pay them by making the shift to electronic payments. This eliminates postal delays and costs, ensuring your payment reaches HMRC on time.
If you have any questions regarding the changes to paying HMRC, please do not hesitate to ring the office or send us an email to email@example.com.
If you’re not currently a client of Franks Accountants, you can also find out how we can deal with HMRC on your behalf.