Not Allowed To Pay Tax Liabilities With Credit Card

sterling30

(I didn't know what forum category to place this so I trust it will be moved accordingly if necessary).


I own a limited company, started in 2004. I owe HMRC a portion of the companies tax liabilities from the 2016-2017 tax year and have recently had the 2017-2018 tax liabilities calculated, payment which is due by 31st of this month.



For various reasons I cannot afford to pay the combined total.



I had a plan to pay the sum due by credit card and then organise a 0% balance transfer onto another credit card, to slowly pay off without paying any interest. (I have successfully worked previous debts this way - moving to another 0% transfer card each time the previous 0% term ends).


Unfortunately my accountant has confirmed that the HMRC do not allow payment by credit card. This has rather stuffed up my plans and I'm now not sure what to do.


Is there some kind of clever way around this so that the money can end up on the credit card which can then be moved to a 0% deal? For example, is it possible to move a 'debit card' balance onto a 0% credit card deal?


I really need to consider all my options and come to a decision by the end of this coming week.


I understand the options are always there to take out a loan or re-mortgage, but I don't really want to do either. I also don't want to file for bankcruptcy!



Thanks for any advice.

BoGoF

Do you have a business credit card?

[Deleted User]

A money transfer card would be the obvious solution.

If you can't get one, then putting all your spending on a purchases card and save your cash to pay the bill.

jtgaoler

I regularly pay my tax on a credit card using the Curve card.
Some credit cards still treat this as a cash withdrawal though, such as Tesco bank.

jtgaoler

See here:

https://support.imaginecurve.com/hc/en-gb/articles/360000166549-Can-I-use-my-Curve-card-on-gov-uk-sites-such-as-HMRC-

sterling30

BoGoF wrote: »

Do you have a business credit card?

No I do not have a business credit card.

sterling30

sterling30 wrote: »

No I do not have a business credit card.

But it says "The Curve card is a Mastercard® Debit card..." How can this be a credit card?

maxximus75

You link your credit card to your curve card and then pay via the curve card.


This then makes what hopefully is classed as a purchase to your credit card for the same amount.

john1002

It might be worthwhile if your going down the curve route to let us know which credit card you are going to link as that way we can confirm no additional fees etc also the value as curve does have limits.

John

BoGoF

sterling30 wrote: »

No I do not have a business credit card.

The reason I ask is that HMRC still accept corporate credit cards on which a fee can still be charged.

chattychappy

Depending how late you will be, it may be worth paying interest to the HMRC rather than MT fees etc on a CC.