Call for Assistance: 02033 259 341
Spondoo Accounting
Call for Assistance: 02033 259 341
Spondoo Accounting

How to change your bank details that receive Child Tax Credit

May 4, 2022

Reporting changes that affect Child Tax Credits

If you claim Child Tax Credit, it is crucial to report any changes to your circumstances to HMRC to get the right amount of benefits on time. It is also important to keep records when divulging changes to avoid possible fines and penalties associated with late reporting. 

How to change your Child Tax Credit Bank details  

For now, you cannot update your Child Tax Credit Bank details online using your Government Getaway account. However, you can use any of these two ways: 

1. By phone 

Before calling HMRC, remember to update all your personal details and addresses in your personal tax account – to pass the telephone security. 

To change your bank details, you can call HMRC Monday to Friday from 8 am to 6 pm on: 

 

Telephone: 0345 300 3900 

Outside UK: +44 2890 538 192 

 

The HMRC helpline uses speech recognition software to understand how to categorise your call needs. It is recommendable to answer the questions with short words and phrases to maximise your experience. HMRC also offers relay speech service if you are deaf or speech-impaired. To use this service – dial 18001 then 0345 300 3900. 

Note: HMRC phone lines do not operate during bank holidays and weekends. 

If you call the HMRC helpline, remember to record the operator’s name, brief details of the call, and the date and time you call. They will act as records when requested by HMRC. 

2. By post 

When writing the letter, ensure you write ‘change of circumstances’ at the top of your letter. You can then send it to HMRC via this address: 

 

HM Revenue and Customs 

Tax Credit Office 

BX9 1ER 

United Kingdom 

 

Remember not to add a street name or PO box on the address. 

 

If you are using a courier service, use this address instead: 

 

HM Revenue and Customs 

BP8002 

Benton Park View 

Newcastle Upon Tyne 

NE98 1ZZ 

United Kingdom 

 

If your courier service provider requests a recipient phone number – give them HMRC’s number 0300 200 3300. 

It is advisable to retain a copy of the tax credit change of details letter that you send to HMRC. You must also endeavour to keep proof of posting the letter – for example, the delivery signature.  

Deadline for reporting bank details changes 

Even though it is highly advisable to inform HMRC of changes as soon as they happen – it is mandatory to report these changes within one month of occurrence. 

more tips

Can You Claim Food as a Business Expense?

The golden rule when claiming business expenses is that the cost must be “wholly and exclusively” for business purposes. So, where do you stand when it comes to food and drink? After all, everyone needs these things to survive. When does it become an allowable expense? Read on to find out when your business can claim food and drink as an expense.
READ MORE

Self-Employed National Insurance Class 2 and Class 4 Rates

If you are sixteen and over, self-employed (sole trader or in a partnership) and making a profit befitting the ‘small profits threshold’, you are liable to pay national insurance.
READ MORE

Key UK Personal Tax Year Dates & Deadlines 2021/2022

Are deadlines creeping up on you? Spondoo is here to ensure you keep on top of things and take control again. These are the important dates you should take note of.
READ MORE

How To Set Up A Limited Company 

A Step-by-Step Guide  This is an easy-to-understand, step-by-step guide, to opening a successful limited company. But before we dive in, let’s check the legality surrounding it. 
READ MORE

Accountants in Haslemere, Surrey

We are qualified accountants providing personal and professional services for start-ups, established companies and individuals in and around the Haslemere area in Surrey. With the rise in technology, we have embraced the digitisation of accounting using efficient digital accounting tools to offer reliable services to our customers. Our goal remains to get our clients the best accounting and taxation services at the most affordable rates.
READ MORE

Onsite Canteen and Lunch Vouchers - Are They Taxable?

The provision of food and drink to an employee by their employer is a lovely thing to do. Eventually, it promotes teamwork, loyalty, a sense of belonging and even improves productivity. Taking it at face value makes it look like a simple act of kindness. However, unless it is done correctly, it can cause tax and national insurance compliance issues for the employer.
READ MORE
1 2 3 45
LEARN MORE
What the service includes, and how much it costs?
Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. Spondoo is a trading name for Accounting SQL Limited, authorised & license accounting firm under the Institute of Financial Accountants.
© Copyright 2023 - Spondoo - All Rights Reserved
How, can we help?
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram