The Clearance House Automated Payment Service (CHAPS) system enables you to tell your bank to make an immediate payment that will reach HM Revenue & Customs (HMRC) on the same day provided you initiate payment within the time specified by your bank - usually between 09.00 and 15.00. Bank working days are Monday to Friday, excluding bank holidays.
CHAPS payments are more expensive than other payment methods but may be of benefit if you're making very large payments.Providing HMRC bank account detailsWhen using this system you will need to provide HMRC bank details to your bank or building society.
If your payment is made to the wrong sort code or account number there may be a delay before your account is credited or your payment may not be received at all.Your Insurance Premium Tax reference number The reference is made up of five digits, eg 12345.It is important that you show the reference number with no gaps
When making an Insurance Premium Tax payment you will need your reference number. This is the same as your registration number, which is shown on your Insurance Premium Tax certificate of registration. The reference is made up of five digits, eg 12345.It is important that you show the reference number with no gaps between the characters otherwise it could lead to delays in updating your records.
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