BACS Payments

Katy_M_2 · 19 November 2009 at 9:44AM

Hi All

Just a quicky please - I know that to set up a BACS payment you need to contact your bank and you need the creditors bank details.

But when it is time to make the actual payment (quarterly VAT liability) - does the creditor request the money automatically - or do you have to contact the bank to arrange for the payment to be sent?

Thanks in advance
Katy

CLAPTON · 19 November 2009 at 9:50AM

If you have online banking then you do it yourself and can simply set up a payment... the sort code, account number of your creditor plus you own own reference so they know who's paying.

You have to initiate the transfer.

Katy_M_2 · 19 November 2009 at 9:54AM

Thanks

I'm asking on behalf of a client though and they don't use the internet. :eek:

So I take it they would need to ring the bank to initiate the payment (obviously leaving enough days for the payment to clear)

:beer:

cottager · 20 November 2009 at 12:02AM

For paying VAT, all account details and available payment methods are here:
http://www.hmrc.gov.uk/payingHMRC/vat.htm
Note the account details can vary according to how your client would wish to pay. HMRC changed their bank accounts earlier this year, so see also the para 'If you experience problems using the new account details'.

Katy_M_2 · 20 November 2009 at 1:35PM

Hi thanks for that.

Already offered all the other payment options and the client decided BACS was easiest for him so was double checking how it works.

All sorted now so thanks for the help

BACS Payments

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