COM91001 | Payments: payments returned by the bank: introduction

Once a payment has been processed and allocated to the company’s COTAX record, HMRC does not receive credit for the amount claimed where the payment is returned by the bank.

Types of returned payments are:

• returned cheques

• removing the credit from the taxpayers record

• retention of unpaid cheques

• ‘recall’ of electronic payments

• failed direct debit payments