- Taxpayers are being targeted by fraudsters who amend their online VAT accounts to include fraudulent bank details
- HMRC does not specify what details have been amended, leading taxpayers to believe it is a confirmation of a previous request
- HMRC is aware of the issue and is taking steps to mitigate fraudulent cases, such as withdrawing the pdf version of Form VAT484
- Small businesses are also being targeted, not just large businesses
- VAT repayments are usually made within 30 days of HMRC receiving the VAT return, provided no further checks are required
- Repayments go directly into the bank account listed on the online VAT account, which must be in the name of the business
Source: mha.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.