HMRC to stop accepting personal credit cards to pay tax from January 2018

[northernladuk]

Time to do some planning and pre-pay that tax before January 13th...

HMRC to stop personal credit card payments in January

[ContractorScum]

What does your accountant say?

[northernladuk]

What does your accountant say?

He's the one that told me. Made a good number of flight and hotel points on this so pretty disappointed with the decision.

[TheCyclingProgrammer]

Haven't read the link but I'm guessing this has something to do with businesses no longer being able to pass on credit card fees?

[northernladuk]

Haven't read the link but I'm guessing this has something to do with businesses no longer being able to pass on credit card fees?

Correct

It will become illegal to surcharge credit card payments from January. Companies will have to decide whether to stop accepting credit cards altogether or to absorb the costs. With interchange fees now capped at 0.3% under EU law on personal cards, it should not make much of a difference to retailers.

(That is the theory. In reality, card processors appear to have got around the 0.3% cap on interchange fees by inventing new additional charges for retailers.)

HMRC has decided to take the first option.

[TheFaQQer]

He's the one that told me. Made a good number of flight and hotel points on this so pretty disappointed with the decision.

Prepay before then and you'll still get your points.

[northernladuk]

Prepay before then and you'll still get your points.

Correct. I've a feeling VAT won't hold it for long before refunding it so may not work. Worth a punt even if they do though.

[VillageContractor]

Tesco debit debt card allows you to earn clubcard points / avios for tax payments

Bits: HMRC miles alternative?, Groupon / Avios deal back, ‘Credit Card Reviews’ returns

[northernladuk]

Tesco debit debt card allows you to earn clubcard points / avios for tax payments

Bits: HMRC miles alternative?, Groupon / Avios deal back, ‘Credit Card Reviews’ returns

Good spot. Paying VAT and CT in a year works out at about 13k Virgin points just for using the card. Not too shabby.

Avios points tick me right off. Never really got my head around them. Got a load of them but using them on flights always means a connecting flight to Heathrow so bit of a waste of time. Need to look in to the other offers at some point. They just strike me as a bit rubbish.

[SeanT]

Tesco debit debt card allows you to earn clubcard points / avios for tax payments

Bits: HMRC miles alternative?, Groupon / Avios deal back, ‘Credit Card Reviews’ returns

Win, already have a Tesco current account (for the 3% interest on £3k or whatever it was). Curious about how early I can pay my VAT and not have it refunded though.