Businesses that are registered for UK VAT but do not have a business address in the UK (known as NETPs) and are due a VAT repayment, automatically receive a payable order from HMRC in respect of the refund. However, the impact of Brexit and COVID-19 has resulted in an increase in banks and countries no longer accepting payable orders.
To address this issue HMRC are now making available the option for NETPs to request repayments by bank transfer.
Source Rbcvat
Latest Posts in "United Kingdom"
- UK Budget 2025: VAT E-Invoicing, Digital Compliance, and Post-Brexit Tax Reforms Announced
- FTT Rules HMRC Closure Notice Bars VAT Registration: Hairdresser’s Turnover Below Threshold, Appeal Allowed
- UK Tribunal Rules Self-Employed Hairdresser Not Liable for VAT Registration Under Rent-a-Chair Model
- EU Insists on VAT Representative for UK Firms Despite British Objections to Import Rules
- Mandatory B2B e-invoicing as of April 2029
