VATREG37360 - Non-established taxable persons (NETPs): overseas bank accounts

Neither the online service nor the paper method of applying to register for UK VAT gives applicants the option to provide details of an overseas bank account.

Once an NETP is registered for VAT, they can request to have VAT repayments made into an overseas bank account under the following circumstances:

• If they do not have a UK bank account (and they are unable to obtain one)
• If they do not have a UK address

To enable HMRC to make payments into an overseas bank account it must be:

• In the name of the company owed a repayment
• Associated with a named business owner or authorised person with a Government Gateway ID
• Able to accept payment in pounds sterling.

Before HMRC can make any VAT repayments to the overseas bank account, a Gform must be completed within the NETP’s Government Gateway account. All repayments will be then issued to the requested bank account.

If the overseas bank account is not provided before the NETP is in a repayment situation and we do not hold details of a UK bank account, they will be sent a payable order.

The Gform also provides the NETP with the option to change uncashed cheques into electronic payments to their bank account or to change their bank details.

To do this the NETP or a named, authorised person associated with the business must have a Government Gateway ID, which can be created the first time they sign in.