BACS
HMRC & Faster Payments - 02 December 2010
Something to watch out for if you are paying HMRC electronically.
HMRC do not use 'faster payment' which means that an electronic payment to HMRC takes 3 or 4 days to clear, and this needs to be factored in if you are making a payment by bank transfer. With electronic payment now mandatory on some taxes, and interest and penalties for late payment for others, this is a key point to bear in mind.
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