Using Credit Cards to pay Tax bills

copperfield

I need to pay at least £10k for my tax bill in January. I have got a bit saved but obviously not enough. I was hoping to pay the rest by credit card and pay it back over say 10 months.

Will it count as a cash withdrawal and therefore incur a higher rate, does the Inland Revenue even accept credit card payments and if I can do it does anyone know the best credit card to use.

I have an MBNA card which I have hardly used and a John Lewis Partnership card which I use more but always pay off each month. So apart from my mortgage and my forthcoming tax bill I have no debt but I am self-employed.

NickX

The MBNA card will allow you to transfer funds directly to your Bank Account, so you could settle your daylight robbery (opps tax) bill from there

johnllew

copperfield wrote: »

does the Inland Revenue even accept credit card payments.

No but it does accept debit card payments.

copperfield

Thanks for your advice I think I may add the £10k to my mortgage as the interest in MBNA will be high.