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Paying tax bill by credit card
babe_ruth_3
Posts: 279 Forumite
in Cutting tax
Hi folks, Im a little lost in here but I know there is a discussion somewhere regarding Martins news that we can possibly now pay our tax bill by credit card. Can anyone direct me to the discussion please? Ta
It is unwise to pay too much but it's worse to pay too little. When you pay too much, all you lose is a little money... that is all. When you pay too little, you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot...it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run and if you do that you will have enough to pay for something better (John Ruskin - 19 ctry author, art critic & social reformer)
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Comments
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It was towards the bottom of the weekly Email :
http://blog.moneysavingexpert.com/2008/01/11/pay-tax-by-credit-card-fantastic-news%e2%80%a6-for-some/
..... but do note it says 'planning'. As I'm aware they've been looking at it ever since they started accepting Debit Cards (7 years??) .... it may still have a while to run. Also likely restricted to SA and similar 'assessed' taxes.
And if they only do it via 'phone then they're likely to pilot it first .. by sticking some flyers randomly in SA output.If you want to test the depth of the water .........don't use both feet !0 -
Its planned for next year - HMRC published the draft legislation last week - though anyone paying by credit card will also have to pay a surcharge to cover HMRC's additional banking costs.
It might still be worth it though, if you get cashback or a long 0% deal
Regards
Sunil0 -
Thanks a lot for your replies.
So I take it that is doesn't apply this year. Ah well looks like being debit card.
Ruth xIt is unwise to pay too much but it's worse to pay too little. When you pay too much, all you lose is a little money... that is all. When you pay too little, you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot...it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run and if you do that you will have enough to pay for something better (John Ruskin - 19 ctry author, art critic & social reformer)0 -
Hi,
there was a similar thread, suggesting doing a balance transfer to your own bank first, and using 0% card.0 -
Another thing - If I pay on IR web site today (18th) by debit card, will it take the money today or is there a facility to put in the date you want to pay it by ie: 28th Jan?
Im thinking I maybe should pay it straight from my bank account be transfer.
Anyone know?It is unwise to pay too much but it's worse to pay too little. When you pay too much, all you lose is a little money... that is all. When you pay too little, you sometimes lose everything because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot...it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run and if you do that you will have enough to pay for something better (John Ruskin - 19 ctry author, art critic & social reformer)0 -
Hi,
My friend used a cheque that she had from the credit card company last week and it was accepted.
Debs0 -
Debras_Angel wrote: »Hi,
My friend used a cheque that she had from the credit card company last week and it was accepted.
Debs
Should NEVER use those cheques! It is the same as withdrawing cash and she will be charged interest on the money she has used, and depending on C C company that could be heading towards 29%Don`t steal - the Government doesn`t like the competition0 -
Hi Derrick,
It was a short term solution for her due to funds not available.
Debs0
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