HMRC rolls out Faster Payment Service

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Taxpayers can pay their tax faster by using a new electronic payment service provided by HMRC, reports Nick Huber.

The Faster Payment Service (FPS), which started in December, lets taxpayers whose banks operate the FPS to make faster electronic payments, typically via internet or telephone banking. Payments are usually processed on the same or next day.

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About Nick Huber

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I’m a specialist business journalist and have a particular interest in tax and technology. 


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By hedleyg
06th Jan 2012 11:11

HMRC need to provide more information

Recently used this method, and it worked well.

The only problem was that the Payment Advice was issued from Cardiff.

HMRC quoted the account number to receive the funds.

The Building Society gave two SA Payment Centre options, Cumbernauld or Shipley.

It would be clearer, if the HMRC notice said that the payment was being made to the Shipley SA Payment Centre, as well as giving the raw Bank Account details.

Some people out there will send their funds to wrong place.

Mind you, if the Payment Advice had been received 6 months ago, it would have been paid then - no point in having savings in the bank these days.



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