VAT bank details fraud

Reports have been circulating in recent weeks that taxpayers’ bank account details are being altered on the HMRC portal without their consent or knowledge.

This in turn has been leading to VAT repayments being redirected to a third-party account instead of the rightful taxpayer.

 

What’s happened?

HMRC have been acting on the basis of a fraudulent letter or VAT 484 form purporting to be from the taxpayer, and have followed up by writing to the taxpayer to say that their details have been amended, without actually specifying what details have been amended.

HMRC is taking action to address this issue, including writing to businesses to confirm changes made to their details since January 2024.

 

Be vigilant

If you receive a letter from HMRC saying that they have amended your details, you should immediately check the bank details shown in your HMRC online services account via your Government Gateway log-in. If you see an error, contact HMRC or your accountant immediately.

Also, we recommend that for now, any taxpayer submitting repayment claims should check regularly that their bank details have not been changed, and any letters you receive from HMRC accepting amended VAT details, should be properly investigated.

As always, if you need our help please get in touch at hello@chw-accounting.co.uk


This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.

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