credit card and tax bill

Nicky321

A quick question.

If you pay your self assessment tax bill by credit card, are you able to claim back the interest charged, off your next tax bill?

DomRavioli

I very much doubt that. Ring HMRC for actual advice.

martindow

I'm sure you're not. Paying with a credit card involves HMRC paying a percentage to the card processor so they wouldn't get the full amount you owe.

phill99

So you are actually asking the tax payer to fund interest on your CC bill due to your poor financial management?

Credit-Crunched

phill99 wrote: »

So you are actually asking the tax payer to fund interest on your CC bill due to your poor financial management?

Slightly different circumstances

I pay my annual tax bill with my airmiles card, HMRC charge 0.4% to use a credit card. The number of miles that I acquire for that 0.4% would cost me a lot more to purchase through my provider. I use the miles each year, and I also have the cash to pay off my CC bill next day.

Makes is a bit easier paying my bill knowing that they are helping fund my next trip!

trailingspouse

I pay my tax bill from the money I've put aside during the year for paying my tax bill. I get a small amount of interest from it, and plough that back into the business/blow it on chocolate.

jonesMUFCforever

Nicky321 wrote: »

A quick question.

If you pay your self assessment tax bill by credit card, are you able to claim back the interest charged, off your next tax bill?

No IMO it is not a legitimate business expense.

Nicky321

phill99 wrote: »

So you are actually asking the tax payer to fund interest on your CC bill due to your poor financial management?

It was a genuine question,and not for myself. No need for sarcastic remarks!

phill99

Nicky321 wrote: »

It was a genuine question,and not for myself. No need for sarcastic remarks!

Well I speak fluent sarcasm and offer it quite freely.


Don't feel you are being treated unfairly. I treat everyone equally.