HM Revenue & Customs: Updates UK Insurance Premium Tax Payment Guidance

We use some essential cookies to make this website work. We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. We also use cookies set by other sites to help us deliver content from their services. You have accepted additional cookies. You can change your cookie settings at any time. You have rejected additional cookies. You can change your cookie settings at any time. How to pay Insurance Premium Tax, and how long it takes for your payment to reach HMRC. Updated guidance to confirm if you use the wrong payment reference number, your payment may be delayed or used to pay a different tax bill that you owe. You can contact HMRC to ask for the payment to be moved. The maximum amount you can pay by Direct Debit has been updated — you must pay in a different way if you are making a payment of more than £20 million. A Welsh translation has been added. Information about the maximum amount you can pay by Direct Debit has been updated. Information about approving a payment through your online bank account has been added. The sections on paying by Euros and other currencies have been removed as all payments must be made in sterling. Change to the Direct Debit instruction form, and the postal payment address. HMRC will send you a notice to file with a deadline to send your return and pay what you owe. You can extend the deadline by 7 days if you pay by: If you’re an overseas insurer and use an agent, they must complete and submit the return and pay HMRC by the deadline. If the deadline is on a weekend or bank holiday, make sure your payment reaches HMRC by the end of the previous working day. If you do not pay by the deadline, you may need to pay a penalty, interest or both. You need your 15-character reference number starting with X. You can find this on: If you use the wrong reference number your payment may be delayed or used to pay a different tax bill that you owe. If your payment has paid the wrong tax bill, you can contact Insurance Premium Tax enquiries to ask for your payment to be moved. You can approve a payment through your online bank account. You can pay by approving a payment through your online bank account by selecting the ‘pay by bank account’ option. You will be directed to sign in to your online or mobile banking account to approve your payment. You will need to have your online banking details to hand to pay this way. The payment is usually instant but can take up to 2 hours to show in your bank account. To set up a Direct Debit, you can print out and post the Direct Debit Instruction form (EEITT15) . You should allow 10 working days for HMRC to set up your Direct Debit. If it will not be set up in time, you’ll need to use another payment method. Once HMRC has set up your Direct Debit, we’ll automatically collect the amount shown on your return. You must pay in a different way if you are making a payment of more than £20 million. If you pay by CHAPS (Clearing House Automated Payment System) or Faster Payments, your payment will be received on the same or next working day. If you pay by Bacs (Bankers Automated Clearing System), allow 3 working days for the payment to reach HMRC. We recommend you check your bank’s processing times and maximum transaction limits before you pay. Use the following details to make a payment if your account is in the UK: Use the following details to make a payment if your account is overseas: You must make all payments in pound sterling. Your bank may charge you if you use any other currency. If needed, you can provide your bank with the following HMRC banking address: Barclays Bank Plc 1 Churchill Place London United Kingdom E14 5HP Make sure your payment will reach HMRC before the deadline. Make your cheque payable to ‘HM Revenue and Customs only’ and write your reference number on the back. Do not fold the cheque or attach it to other papers. You can include a letter to ask for a receipt. Send your cheque to: HM Reve