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Paying tax bill on credit card

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Comments

  • nidO
    nidO Posts: 847 Forumite
    I think the more important question in this thread is what on earth credit card is it you have that you can use with HMRC and gives you points which convert to Amazon vouchers at a rate greater than 1.4%?
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    nidO wrote: »
    I think the more important question in this thread is what on earth credit card is it you have that you can use with HMRC and gives you points which convert to Amazon vouchers at a rate greater than 1.4%?
    Good question.
    My gut reaction was it was then being moved to a Stoozing card which could more than pay for the fee. But that would leave the OP with a credit card balance at a time when he doesn't want one. Hmmm.

    An introductory offer, maybe?
  • tomcc1
    tomcc1 Posts: 18 Forumite
    It's HSBC Premier but having done the sums properly I would be worse off by about 50% of the difference between the fee and the reward, so yes - not worth doing!
  • VFR-Rider
    VFR-Rider Posts: 119 Forumite
    nidO wrote: »
    I think the more important question in this thread is what on earth credit card is it you have that you can use with HMRC and gives you points which convert to Amazon vouchers at a rate greater than 1.4%?

    Unless of course the tax bill is for corporation tax in which case the OP may pay & claim back through expenses.... as long as they then report the points as benefits on their SA....
    saving, saving, saving!
  • tomcc1
    tomcc1 Posts: 18 Forumite
    VFR-Rider wrote: »
    Unless of course the tax bill is for corporation tax in which case the OP may pay & claim back through expenses.... as long as they then report the points as benefits on their SA....

    Ha I wouldn't fancy telling my accountant I'd done that, I think she might have a heart attack.
  • lovinituk
    lovinituk Posts: 5,711 Forumite
    1,000 Posts Combo Breaker
    VFR-Rider wrote: »
    as long as they then report the points as benefits on their SA....
    No need. HMRC have made it clear they are not interested in credit card rewards.

    http://www.hmrc.gov.uk/manuals/eimanual/eim21618.htm
  • JimmyTheWig
    JimmyTheWig Posts: 12,199 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    tomcc1 wrote: »
    It's HSBC Premier but having done the sums properly I would be worse off by about 50% of the difference between the fee and the reward
    How is it anything other than 100% of the difference between the fee and the reward?
This discussion has been closed.
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