VAT – What to do if your details change

VAT-registered businesses must let HM Revenue & Customs (HMRC) of any changes to their details.

Depending on the change, you may need to cancel your VAT registration or have it transferred.

You should inform HMRC of the following changes if they apply:

You have to inform HMRC of any of these changes within 30 days of the change as a penalty fee may apply if you fail to do so.

Change of bank details

If the bank details associated with your business change, then you must let HMRC know within 14 days.

Additionally, if you pay your VAT by direct debit, you must inform your bank of the change but not within the 5 banking days before or after your VAT return is due as this could result in you being charged twice.

Let HMRC know via:

What about other changes?

If you take over someone else’s VAT account for them due to illness or death, you must inform HMRC within 21 days of this change.

If your business structure changes, then you should also inform HMRC of this but there is the option of transferring your VAT registration if you want it to stay as the same number.

You will need to cancel your VAT registration if you join a VAT group as you will need to use the group number once you’ve joined.

The group is responsible for informing HMRC of the new member.

For advice on this and other VAT matters, contact us.

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