CIOT comments on VAT repayment options for overseas businesses

Released 24 November 2021

HMRC have launched a new online form available via the Government Gateway that enables UK VAT-registered non-established businesses to provide HMRC with their overseas bank account information so that HMRC can send future repayments electronically instead.

The Chartered Institute of Taxation (CIOT) has received confirmation from HMRC that if any non-established businesses have already received a payable order that they are unable to cash, they can provide details and request cancellation of the payable order and HMRC will send an electronic repayment instead.

Further details can be found at https://www.tax.org.uk/new-bank-repayment-option-for-overseas-businesses-registered-for-vat-in-the-uk.

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