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Paying tax on my credit card
Cariad71
Posts: 263 Forumite
in Cutting tax
Good morning,
I'm assuming I'll have to pay 2k tax on my rental property next January. Does anyone know if I can use my credit card to do this? (0%) of course!
The reason I ask is this would allow me to overpay my interest only mortgage all year and reduce it whilst it's in it's infancy.
Anyone know?
Thanks in advance::)
I'm assuming I'll have to pay 2k tax on my rental property next January. Does anyone know if I can use my credit card to do this? (0%) of course!
The reason I ask is this would allow me to overpay my interest only mortgage all year and reduce it whilst it's in it's infancy.
Anyone know?
Thanks in advance::)
Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j
0
Comments
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http://www.hmrc.gov.uk/payinghmrc/selfassessment.htmIf you wish to pay by credit card a non-refundable transaction fee of 1.4 per cent will be added to the charge. Any charge of less than £0.01 will be rounded up to a penny.0
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Thanks! So am I right in thinking I'd be better off overpaying my mortgage (3.29%) and then paying the card off?Starting balance £173,000 (Sept 2012) interest only so if we do nothing We will owe this at the end of the term😁😁
Balance as of Sept 2014 £165,803
Balance as of Feb 2015 £163,360
Balance end of July 2015 £159,050
Balance as of Jan 2017.... £138,033:j0 -
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Depends how long the 0% continues for.0
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