Posted: June 24, 2021
Posted: 24 June 2021
HMRC plans to move taxpayer accounts to a new IT system. They intend to implement these changes from July, till September 2021. This change will affect:
- VAT-registered businesses that are not signed up to Making Tax Digital, i.e. mainly voluntary registrations; and
- businesses that pay their VAT bills by direct debit.
HMRC are required by banking regulations compliance to inform businesses paying by direct debit of the amount and payment date before the payment is taken. HMRC will do this via email only to accommodate the short time frame between the return due date and the payment date. This means that businesses are at risk of late payments as any direct debits will be cancelled if there is no email address on record.
We would encourage businesses to log in to their business tax account to ensure there is a valid and updated email address on record.
If you have any queries on this please contact us at email@example.com