Share this content

HMRC Repayments and Confirmation of Payee Details

Do HMRC repayments trip up if the trading name is different to the company name

Didn't find your answer?

I've had a couple of issues recently for new clients making a payment to me (for the first time) where their bank flagged a discrepancy in the account details. This was due to the "confirmation of payee" system needing the company name to be put in rather than the trading name and the payments then went through OK.

I now have a small HMRC repayment arising for a client which I will collect towards fees. Does anyone know if this will fall foul of the COP system if I put in my trading name, or do I need to put in the legal name. It's more of an aesthetic issue as the client will get notification of the repayment going to "ABC Ltd" rather than "familiar trading name".

I only have the occasional repayment case so it's something I haven't had to use lately and would appreciate any recent experiences.

Replies (1)

Please login or register to join the discussion.

.
By Cheshire
19th Nov 2020 14:16

SoL wrote:

I've had a couple of issues recently for new clients making a payment to me (for the first time) where their bank flagged a discrepancy in the account details. This was due to the "confirmation of payee" system needing the company name to be put in rather than the trading name and the payments then went through OK.

I now have a small HMRC repayment arising for a client which I will collect towards fees. Does anyone know if this will fall foul of the COP system if I put in my trading name, or do I need to put in the legal name. It's more of an aesthetic issue as the client will get notification of the repayment going to "ABC Ltd" rather than "familiar trading name".

I only have the occasional repayment case so it's something I haven't had to use lately and would appreciate any recent experiences.

yes (has for a vat client).

The issues you mention have been discussed in last few days (re you, not HMRC)

Thanks (0)
Share this content