In this week’s miscellaneous updates, we bring you news of a new role for the Office of Budget Responsibility (OBR) and the latest HMRC performance data has been published. HMRC’s bank details have changed in respect of paying several taxes and the letter sent to taxpayers when they authorise an agent to act on their behalf via the online agent authorisation service has been updated. And finally, the latest HMRC Stakeholder Digest has been published.
New role for OBR
The Budget Responsibility Act 2024 received Royal Assent earlier this month on 10 September 2024. The aim of this legislation is to ensure that “future fiscal announcements making significant, permanent tax and spend changes” will be “subject to an independent assessment by the OBR”. More information on what this means is set out in the Press Release published in July when the original Bill was introduced to Parliament.
HMRC bank details changed
Agent Update 123 highlights that HMRC has changed its bank accounts for payment of the following taxes:
- the customs declaration service,
- plastic packaging tax,
- fuel duty,
- economic crime levy,
- soft drinks industry levy, and
- the trust registration service penalty.
Taxpayers who make payments via Faster Payments, BACS or CHAPS should use the new details. Anyone paying by direct debit is not required to take any action.
Updated agent authorisation letters
In another story from Agent Update 123, HMRC has updated the letter which is sent to taxpayers when an agent is authorised to act on their behalf via the online agent authorisation service. According to HMRC, the changes are intended to clarify the role of the agent and in particular, reinforces that the taxpayer retains responsibility for their own tax affairs.
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