Abolition of Credit Card charges - good news for everyone?
8th January 2018
Abolition of credit card charges is NOT good news for everyone - especially those personal taxpayers who have got used to paying their tax by credit card in order to spread the cost rather than take the hit one month after Christmas.
HMRC, like other businesses, charges for the use of credit cards, on the basis that it has to pay the bank charges on them and doesn't think it fair to spread that cost over all taxpayers. So, from 13 January as they can't charge, they won't be accepting credit cards.
Taxpayers therefore have a choice - pay by credit card before 13 January and pay the charge, or find another way of paying by 31 January to avoid late payment penalties.
Author: Peter Hedgethorne, Director