stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 8, 2018 3:03:37 GMT
Anyone doing tax payments in January where they hope to use personal credit cards may be in for a surprise.
Reported today that HMRC have reacted to the removal of charges on card payments, due to come into effect next Saturday, by stopping people paying on personal credit cards already. Not verified with HMRC.
The change is as a result of a super complaint by Which. It impacts many different transactions. UK organisation selling to UK individual charge not allowed whether online or in an outlet. Tickets, flights, food ordering sites etc to be impacted. Some food ordering platforms have reacted by placing a service charge on every order, cash or card, in advance.
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pikestaff
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Post by pikestaff on Jan 8, 2018 8:31:25 GMT
This explanation of the new regulations (which come into effect on 1331 January) confirms that tax payments are within the scope. www.businesscompanion.info/en/quick-guides/pricing-and-payment/payment-surchargesThe back of my statement (issued 26 Nov) showing the amount due by 31 January includes among the ways to pay "by debit or credit card online", with this link: www.gov.uk/pay-tax-debit-credit-card. As of today the link still appears to allow credit card payments and mentions a fee. It remains to be seen what happens when the regs come into effect. However, I think anyone relying on the ability to pay their 31 January bills by credit card would have grounds for complaint if the facility was withdrawn before then. More generally, the outcome of the regs is entirely predictable. Entities whose business won't be affected (such as HMRC) are likely to withdraw the facility to pay by credit card. Other businesses will react by either putting up their prices, or adding other fees, for everybody. Well done Which. Another pyrrhic victory for consumers. |
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r00lish67
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Post by r00lish67 on Jan 8, 2018 9:22:10 GMT
As of today the link still appears to allow credit card payments and mentions a fee. It remains to be seen what happens when the regs come into effect. However, I think anyone relying on the ability to pay their 31 January bills by credit card would have grounds for complaint if the facility was withdrawn before then. From my forays into the world of airline points and miles collecting, the cutoff date is apparently 13th January 2018.www.headforpoints.com/2017/12/15/pay-hmrc-tax-bills-which-credit-card-to-use/Personally, I'm about to pay mine with a mastercard and then do a 0% balance transfer for a couple of years, lumping the balance in a savings account.
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jonah
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Post by jonah on Jan 10, 2018 6:07:16 GMT
www.bbc.co.uk/news/business-42621989I expect this will become normal.  Similar to the reduction in interchange fees... no benefit in prices to consumers, but removal of cashback credit cards.
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Post by Deleted on Jan 10, 2018 8:53:44 GMT
The additional charge is only allowed to pass on the cost of the activity (which is tiny). It will be interesting to see, after the froth has died back, if Which goes after extortionists again.....
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