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spot on
1.25% just shows how bad they are at negotiating - they shuld not pay more than .25%
Credit card co's/ banks
just done the same. plus I pay fees to banks to for being over o/d limit by £1 off. Why? Clients are stuggling, accountants are last to be paid.
Time this government took the banks to one side and told them to stop ripping of the consumer!
Also, time to sort out the clients!
Companies ?
Presumably are insolvent if they cannot meet payments when they become due, when HMRC withdraw the life line pehaps they should seek insolvency and not pay any tax.
We are only going to have to bail out the banks when the credit cards are not paid, anyway so what's the difference.
We will soon run out of businesses to pay government employees and when the well has dried up perhaps someone will realise ? or perhaps not.
'civil' servants
“Payment by credit card is one of a number of payment options open to businesses and individuals. For those who choose to pay by credit card the law requires HMRC to charge a 1.25% transaction fee”
They are just soooo not in the real world.
I recently had a letter from HMRC demanding £300,000 in VAT, and it suggested i could stick it on my card..! if only.
Why don't they ever learn how to say something without inviting ridicule at the way they said it?
PS. charging EXTRA for paying by cr card is even more unrealistic! How much money are THEY saved by getting it on the card straight in, instead of trolling down to the bank to pay in a cheq etc....
European Human Rights
My Memory might be a bit shakey, but I am sure that about 5 years ago, HMRC were stopped from suggesting that further debt was incurred to pay off tax debt. It was all linked into the Human Rights Act. Perhaps this is no longer the case but perhaps it should be pushed a bit with HMRC.
MUST CHARGE
For those who choose to pay by credit card the law requires HMRC to charge a 1.25% transaction fee”
whats the statutory reference
Credit Card Offsets preventing me from paying my Tax Bill - bewa
Don't borrow to pay your Tax bill. I put £20K on a credit card to pay my tax bill 3 years ago. The initial zero interest rate disappeared and I now pay over 30% (MBNA!!!!). The interest is killing me, the loan doesn't decrease and is counted as income, and that is making it even harder to pay my tax bill ever since. I still owe £19K although IU now owe HMRC nothing until April 11. I throw what little spare money I have at the credit card but it ain't going to go away. I can't transfer to another card because of the extent of my current borrowing.
You should only consider using a credit card if you can afford to pay it of in 3-6 months and HMRC would let you do that anyway.....so don't do it.
And remember......there is another tax bill within 6 months for the self-employed; it never goes away.