SA refunds: Accept online transfer or face delay
Posted by AccountingWEB in Tax on Wed, 02/07/2008 - 12:03
HM Revenue & Customs (HMRC) now prefers to handle tax refunds by making direct payment online into a person's bank/building society account. It therefore requires taxpayers or agents to complete the relevant bank details section on their self-assessment tax returns.
It says: “if that section is not completed, a repayment will not be issued.
When a person prefers a repayment the old fashioned way - by cheque, either to the taxpayer or to a nominee, then the bank details section on the SA return should be left blank.
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