HMRC in its infinite wisdom banned the aeons-established system of using the Bank of England for its banking, and signed up with the Yanks (Citibank) to receive our taxes – no idea why – ask HMRC.

The collateral damage (to us) is this meant that credits to HMRC until recently took 3-4 days from British (proper) banks because Citi was not a UK-Clearer or part of FPS (UK Faster Payment System). Luckily for us (be obsequiously grateful) Citibank’s actual cleaners (Co-op Bank) have now caved in/bought a new as Amstrad, and joined FPS, so your hard-earned gold now goes across same-day, like it always should have done.

Did HMRC spend a nano-second thinking about the punters when setting up this new arrangement? What do you think? Plus ca change as the Germans say...

Please also note that soon HMRC will not accept cheques or cash for tax payments

Everything will have to go by bank transfer, or you go to your bank, and they transfer it to you.

Comany Formation