Watch Out For HMRC Repayments To Cards
Later this year HMRC will change how it pays refunds to customers who pay their tax bill by debit or credit card.
HMRC has said that some customers will receive their refund direct to their debit or credit card. According to their website, refunds will be made this way when:
- The most recent tax payment was made by debit or credit card
- The amount of the refund due is less than the debit credit or card payment
- The debit or credit card payment was made in the last nine months
This method of repayment is used as standard across the payment card industry but it can prove to be problematic if the credit card has been cancelled or the card has been cloned & therefore re-issued with a different number. There are procedures in place for these circumstances, but it may take a lot longer to receive your refund.