Paying HMRC – a clear answer required

[Daiboy1980]

Good morning all,

I have read many of the forums and I am still at a loss as to the best route if any, to pay HMRC.

I have £30k corp tax bill to pay in December.

Can I pay with a On Tap card directly, if so is there a charge?
Can I pay with Curve Fronted Metal Business Card via on Tap – if so, what are the charges.
Can I pay with Curve Fronted Metal Business Card via Virgin – if so, what are the charges.

Any other options are most welcome.

Thanks in advance

[BLT]

Can I pay with a On Tap card directly, if so is there a charge? Yes 1.7%
Can I pay with Curve Fronted Metal Business Card via on Tap – if so, what are the charges. – Yes but limited to £3k per month and then 2.5%
Can I pay with Curve Fronted Metal Business Card via Virgin – if so, what are the charges. – I wouldn’t be comfortable paying COT on a personal card and Virgin have started charging when using curve for some transactions

[ShoreditchTom]

The rate to pay HMRC with Capital On Tap now seems to be 1.85% unless I’ve missed something – is that others experience too?

[The Savage Squirrel]

Daiboy1980 wrote:

Good morning all,

Any other options are most welcome.

Other options may have pretty rubbish earn rates, but every little helps.

[sayling]

@BLT

I believe that, if you have a personal Curve rather than corporate Curve, it is free up to £1500 fronted pcm when the underlying card is a corporate/ business card such as CoT.

Sums higher than that are then cheaper to just use CoT directly

[BBbetter]

The Savage Squirrel wrote:

Other options may have pretty rubbish earn rates, but every little helps.

Brilliant!

[No Longer Entitled]

The fee for Curve Black (which allows you £3k pcm front) is £17.99 pcm. CoT will earn you £30 from this at 1% cashback leaving your profit at £12.01.

Returns are so muted that it isn’t even worth pre-paying a corporate tax bill in £3k chunks versus just keeping the money in the bank and paying when due.

A clear answer: There is no good way to earn points unless you want to pay for them by incurring charges.

[sayling]

But the price you pay for these points is a business expense…

[Andy D]

Assuming you’ve got the available cash paying the corporation tax bill early will earn interest which might change the cost equation

[Ian]

ShoreditchTom wrote:

The rate to pay HMRC with Capital On Tap now seems to be 1.85% unless I’ve missed something – is that others experience too?

Correct.

I assume COT are okay with this. Seems to be the cheapest route if it is possible.