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HMRC has reported that form VAT 484 has been used in fraudulent attempts to gain access to businesses’ VAT repayments.
The department is taking action to address this issue, including writing to businesses to confirm changes made to their details since January 2024.
An HMRC spokesperson said: ‘We are taking action on the small number of cases where paper bank variation forms have been fraudulently used in an attempt to gain access to VAT repayments.
‘We’re putting measures in place to stop this from happening while asking businesses to remain vigilant.’
The ICAEW’s Tax Faculty is urging businesses to act now to ensure that they are not caught out.
A business can update its VAT details with HMRC online or using paper form VAT 484. This includes the business’ contact information, return dates and bank details.
