This guide offers a reminder of Petroleum Revenue Tax payment deadlines and explains all of the available payment options.
HM Revenue & Customs (HMRC) recommends that you make all of your Petroleum Revenue Tax payments electronically. HMRC counts all of the payment methods below as electronic apart from payment by post. Paying electronically:
On this page:
From 16 December 2011 HMRC will be able to accept payments made using the Faster Payments Service (FPS).
FPS is a service that has been introduced by the banking industry that allows payments by internet or telephone banking to be received on the same or next day, provided the value of the payment does not exceed the limit set by your own bank or building society.
Before making a payment using FPS you should contact your bank or building society to confirm the services available to you, any daily value limits and latest cut off times for making a payment.
More about Faster Payments Service
You are responsible for calculating how much Petroleum Revenue Tax is owed and for paying this on time.
Petroleum Revenue Tax returns are made twice a year for six-month chargeable periods (from the beginning of January until the end of June and then from the beginning of July until the end of December).
For each chargeable period six instalments of Petroleum Revenue Tax at monthly intervals are required, beginning two months into the chargeable period itself. So the first instalment for each period is due respectively on 28 February (30 June chargeable period) and on 31 August (31 December chargeable period). Each instalment is based on the tax paid for the previous chargeable period (reported on return form PRT6).
One month after the last instalment of each period, you will submit a return for that chargeable period (for example the last payment for the 30 June period will be at the end of July and therefore you will submit your return at the end of August).
You must pay any outstanding tax owed to HMRC with this return (or alternatively HMRC will pay back any money owing to you if you have overpaid).
Finally, three months after you have submitted your return, HMRC will send you an assessment and payment notice. This is based on your return and will tell you whether you need to make any further payments (or whether HMRC needs to pay you back any money).
Read more about Petroleum Revenue Tax returns and payments
You can use your bank or building society services to pay by:
Bacs Direct Credit - your payment is transmitted by Bacs direct to HMRC’s bank account. This service is only available for customers whose businesses are authorised by their bank to submit files direct to Bacs. It normally takes three bank working days for a payment by Bacs Direct Credit to reach HMRC. Bank working days are Monday to Friday excluding bank holidays.
Internet banking – enter HMRC’s bank account details. You also need to enter your Petroleum Revenue Tax reference and the payment amount.
Telephone banking – phone your bank/building society and give them HMRC’s bank account details, your Petroleum Revenue Tax reference and the amount to pay.
Faster Payments – this is a service that has been introduced by the banking industry for sending payments initiated by internet or telephone banking on the same or next day, providing the value of the payment does not exceed the value limit set by the sending bank.
Before making a payment you should contact your bank or building society to confirm the services available to you, any daily value limits and the latest cut off times for making a payment.
More about the Faster Payments Service
Information about Faster Payment limits (Opens new window)
CHAPS – this enables you to tell your bank to make a payment that will reach HMRC on the same day provided you initiate the payment within the time specified by your bank (usually between 9.00 am and 3.00 pm). CHAPS payments are more expensive than other payment methods but may be of benefit if you are making very large payments.
To pay your Petroleum Revenue Tax using any of the above payment methods you'll need to set up the payment details with your bank. You'll need to supply them with:
When making a payment to HMRC please make sure you always use the correct bank account details and reference number. And that your bank has confirmed that your payment has been made successfully.
If you make a mistake with the sort code or account number there may be a delay before your record is credited or your payment may not be received at all. That could mean you are charged a penalty, interest or surcharge for late payment.
When paying by Bacs Direct Credit, internet or telephone banking,
Faster Payments, or CHAPS you should only use the bank account details
shown below.
| Accounts Office | Sort code | Account number | Account name |
|---|---|---|---|
| Shipley | 08 32 10 | 12001020 | HMRC Shipley |
If your bank asks for the address of the bank to which payment is being made please use
Citi
Citigroup Centre
Canada Square
Canary Wharf
London
E14 5LB
When making a Petroleum Revenue Tax payment you will need your reference number. This is shown on your Petroleum Revenue Tax payslip in the reference box. The reference is made up of 14 characters and always starts with an 'X', for example XY000010001234 - this reference is only an example and should not be used to make a payment.
It is important that you show the reference number with no gaps between the characters as this could lead to delays in updating your records.
Remember, if your cleared payment arrives late interest will be charged.
HMRC recommends that you make your Petroleum Revenue Tax payments electronically using one of the methods described elsewhere in this guide.
Electronic payments are generally more efficient and secure, provided you give HMRC an accurate reference number.
However if paying by post please:
If you are sending a payment to HMRC and do not have an HMRC pre-addressed envelope please send your payment to:
HM Revenue & Customs
Bradford
BD98 1YY
To allow for possible postal delays (for which HMRC is not responsible) please allow at least three working days for the payment to reach them.
You can pay your Petroleum Revenue Tax electronically from a bank account outside the UK. You should check with your bank or building society to see how long it takes to transfer a payment.
You'll need to give your bank or building society HMRC's bank account details. You should check with your bank or building society to see how long it takes to transfer a payment to HMRC.
Please take care if you need to enter HMRC's bank account details. If you make a mistake with the sort code or account number there may be a delay before your record is credited or your payment may not be received at all.
The account name you should use is 'HMRC Shipley'.
| Currency | International Bank Account Number (IBAN) | SWIFT Bank Identifier Code (BIC) |
|---|---|---|
| Sterling and foreign currencies (including euro) | GB05CITI08321012001020 | CITIGB2L |
Note: Where an IBAN is shown you must give this number as well as the SWIFT BIC.
If your bank asks for the address of the bank to which payment is being made please use
Citi
Citigroup Centre
Canada Square
Canary Wharf
London
E14 5LB
When making a Petroleum Revenue Tax payment you will need your reference number. This is shown on your Petroleum Revenue Tax payslip in the reference box. The reference is made up of 14 characters and always starts with an 'X', for example XY000010001234 - this reference is only an example and should not be used to make a payment.
It is important that you show the reference number with no gaps between the characters - otherwise it could lead to delays in updating your records.
In order to minimise costs to all taxpayers HMRC does not automatically issue receipts for payments. If you have made your payment electronically using one of the methods described elsewhere in this guide you can confirm from your own bank or building society statement that payment has cleared your account.
However, if you are paying HMRC by post and you need to ask for a receipt, include a separate letter with your payment. HMRC cannot identify any instructions written on payslips as they are processed automatically.
If you pay your Petroleum Revenue Tax electronically you will not need a payslip. HMRC recommends that you make your Petroleum Revenue Tax payments electronically using one of the methods described elsewhere in this guide. Electronic payments are generally more efficient and secure, provided you give HMRC an accurate reference number.
However, if you are paying by post and you don't have a payslip these details should accompany your payment:
You should use the contact details described in the Paying by post section of this guide.
Find out what to do if you have problems paying HMRC
