Direct Debit is a fully automated payment type that moves money from one bank account to another on a recurring basis. This electronic transfer and collection of money through the banking system is run by Bacs in the UK and is closely regulated for security and fraud prevention.

A business can access the Direct Debit scheme either directly, by becoming a Direct Debit originator or indirectly, through a third-party specialist provider.

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Making Tax Digital – FastPay’s Honest Guide

In a bid to become one of the most digitally advanced tax administrations, HMRC introduced the first phase of Making Tax Digital (MTD) in April 2019, with businesses who have a taxable turnover above the VAT threshold of £85,000 required […]

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    Making Tax Digital – FastPay’s Honest Guide
    2022-04-29T14:52:34+00:00
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