Why does HMRC bank with Citi?
Discussion
http://www.hmrc.gov.uk/payinghmrc/vat-payt.htm
I know it's fairly old news now, what with them making this change back in '09.....
But why does HMRC bank with Citi....an American bank?
There may be a simple, valid reason for this...in which case one of the more enlightened on here may be able to help me out.
I just find it rather strange that Her Majesty's Shylocks use a foreign bank to receive VAT returns.
I know it's fairly old news now, what with them making this change back in '09.....
But why does HMRC bank with Citi....an American bank?
There may be a simple, valid reason for this...in which case one of the more enlightened on here may be able to help me out.
I just find it rather strange that Her Majesty's Shylocks use a foreign bank to receive VAT returns.
Spiritual_Beggar said:
I just find it rather strange that Her Majesty's Shylocks use a foreign bank to receive VAT returns.
Yes, my reaction was exactly the same as yours. Making my payments via Barclays their website only offered "VAT Southend" as the payment option so that's what I used. Hopefully it will reach the right place....
davepoth said:
They put it out to tender, and Citi were cheapestput on the best lunch, I imagine.
Corruption, it's everywhere once you start looking. That and, as has also been mentioned, rank innefficiency and chaos - that they appear to be using umpty-million different banks, in fact.12gauge said:
Highly unlikely. HMRC still seem to think im working somewhere i havent worked in nearly 4 years...
They spent several years getting me mixed up with my Dad due to us sharing letters in our initials (not even in the same order!), then managed to duplicate my details rather than correct them. Never mind all this stuff about avoidance and evasion, just getting the existing system working would be a start.Digga said:
davepoth said:
They put it out to tender, and Citi were cheapestput on the best lunch, I imagine.
Corruption, it's everywhere once you start looking. That and, as has also been mentioned, rank innefficiency and chaos - that they appear to be using umpty-million different banks, in fact.Surely it would be easier to have it all under one bank?
Digga said:
davepoth said:
They put it out to tender, and Citi were cheapestput on the best lunch, I imagine.
Corruption, it's everywhere once you start looking. That and, as has also been mentioned, rank innefficiency and chaos - that they appear to be using umpty-million different banks, in fact.I also hope that you guys and Haymarket can afford the legal fees for libel.
Who's been libelled?
The inefficiency of HMRC is legendary. I frequent enough tax and accounting forums and read enough tax and accounting periodicals to know that criticsm of HMRC is the norm and that HMRC are well aware of it.
If they were to sue every organisation that carried such criticsm they wouldn't have time to do their proper work - which they do badly anyway.
The inefficiency of HMRC is legendary. I frequent enough tax and accounting forums and read enough tax and accounting periodicals to know that criticsm of HMRC is the norm and that HMRC are well aware of it.
If they were to sue every organisation that carried such criticsm they wouldn't have time to do their proper work - which they do badly anyway.
Bing o said:
Digga said:
davepoth said:
They put it out to tender, and Citi were cheapestput on the best lunch, I imagine.
Corruption, it's everywhere once you start looking. That and, as has also been mentioned, rank innefficiency and chaos - that they appear to be using umpty-million different banks, in fact.I also hope that you guys and Haymarket can afford the legal fees for libel.
PH T and Cs said:
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Eric Mc said:
Who's been libelled?
The inefficiency of HMRC is legendary. I frequent enough tax and accounting forums and read enough tax and accounting periodicals to know that criticsm of HMRC is the norm and that HMRC are well aware of it.
If they were to sue every organisation that carried such criticsm they wouldn't have time to do their proper work - which they do badly anyway.
Quite so.The inefficiency of HMRC is legendary. I frequent enough tax and accounting forums and read enough tax and accounting periodicals to know that criticsm of HMRC is the norm and that HMRC are well aware of it.
If they were to sue every organisation that carried such criticsm they wouldn't have time to do their proper work - which they do badly anyway.
Bingo, I know you're non-resident, so you may have missed this: http://www.accountingweb.co.uk/article/2011-ballad...
As regards cosy lunches, at least as far as Dave Hartnet is concerned, I rest my case.
I have inside information on a lot worse, but that I will not be posting.
Digga said:
Eric Mc said:
Who's been libelled?
The inefficiency of HMRC is legendary. I frequent enough tax and accounting forums and read enough tax and accounting periodicals to know that criticsm of HMRC is the norm and that HMRC are well aware of it.
If they were to sue every organisation that carried such criticsm they wouldn't have time to do their proper work - which they do badly anyway.
Quite so.The inefficiency of HMRC is legendary. I frequent enough tax and accounting forums and read enough tax and accounting periodicals to know that criticsm of HMRC is the norm and that HMRC are well aware of it.
If they were to sue every organisation that carried such criticsm they wouldn't have time to do their proper work - which they do badly anyway.
Bingo, I know you're non-resident, so you may have missed this: http://www.accountingweb.co.uk/article/2011-ballad...
As regards cosy lunches, at least as far as Dave Hartnet is concerned, I rest my case.
I have inside information on a lot worse, but that I will not be posting.
Anyway, I wouldn't blame HMRC for not putting all their eggs in one basket - it's not like banks don't put up charges when they think they have a captive client...
I have no problem with HMRC having more than one bank account or even more than one banker. However, what they need to do is communicate effectively with the taxpayer so the taxpayer knows exactly where they should be paying their taxes.
In July they failed to send out millions of Statements of Account to enable self assessment taxpayers to pay their 2nd Payments on Account for 2010/11, This left many people unsure how much they had to pay and how to pay, as they didn't have the relevant payslip nor the payment references (which are vital to ensure the taxpayer gets credited with the amount they have paid).
HMRC's excuse was that the requirement to print the July Statements of Account was at an unprecedented level. This was complete and utter b
ks as they had printed out successfully exactly the same number of Statements of Account for the 1st 2010/11 Payments on Account in January 2011.
In many, many areas HMRC are completely dysfunctional.
In July they failed to send out millions of Statements of Account to enable self assessment taxpayers to pay their 2nd Payments on Account for 2010/11, This left many people unsure how much they had to pay and how to pay, as they didn't have the relevant payslip nor the payment references (which are vital to ensure the taxpayer gets credited with the amount they have paid).
HMRC's excuse was that the requirement to print the July Statements of Account was at an unprecedented level. This was complete and utter b
ks as they had printed out successfully exactly the same number of Statements of Account for the 1st 2010/11 Payments on Account in January 2011.In many, many areas HMRC are completely dysfunctional.
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