Policy paper
Draft Legislation: The Enforcement by Deduction from Accounts (Imposition of Charges by Deposit-takers) Regulations 2016
These regulations set out the parameters in which banks and building societies may opt to pass on an administrative charge to debtors for processing a Direct Recovery of Debt ‘hold’ notice.
Documents
Details
The draft regulations specify the maximum fee that banks and building societies can charge debtors to process DRD notices, and the situations in which they can do so.
HM Revenue and Customs has published draft regulations for a period of technical consultation which will close on Friday 8 January 2016. Any comments on this draft should be sent to ademola.adetosoye@hmrc.gsi.gov.uk by the above deadline.