Using Capital on Tap to pay personal tax to HMRC

[loosemarbles]

I can’t find anywhere which states what charges HMRC will apply for using a corporate card, but assuming that it is ‘reasonable,’ has anyone used COT for paying their personal tax bill, rather than business related HRMC costs?

• This topic was modified 54 years, 11 months ago by .

[Peter K]

The amount HMRC charged seemed to vary by card in the past. IIRC corporate cards were charged over 2%. The best way to find out is to plug the card details into the HMRC payment system and it’ll tell you.

[The Savage Squirrel]

Yes, I can’t remember the exact figures, but basically it’s not so “reasonable” that it wiould cover the cost of the fee or anything close – corporate credit cads always attracted the highest charges – so unless your situation is unusual, it’s unlikely to make sense.
Curve is your friend here. Note that with a 10k limit per month, if your tax bill is large, or you use some of that 10k monthly limit for other payments, then this may take some planning and early payment to split your self assessment payment over several months.

[Ash]

Please correct if I misunderstood….using Curve (10k a month), with COT underneath, to pay Self Assessment HMRC will not incur any charges by any of the parties?

[JimBurgessHill]

Ash wrote:

Please correct if I misunderstood….using Curve (10k a month), with COT underneath, to pay Self Assessment HMRC will not incur any charges by any of the parties?

Correct, provided you have Curve Metal and don’t go over £10k in a calendar month there are no charges when paying HMRC.

• This reply was modified 54 years, 11 months ago by .

[Mikeb7499]

Apologies if this is a stupid question as have just signed up for COT, on paying HMRC, presumably as this is a credit card, HMRC charge a fee for using COT and if so how much is this?

[Entitled]

HMRC card fees are here: https://www.legislation.gov.uk/uksi/2017/1262/made

If you get Curve you can pay up to £10,000 pcm without incurring a fee, after that Curve will charge 1.5%. The Curve card costs £150 p.a. or £14.99 pcm so you have to do the math to see if you will cover your cost and if it is worth the time.

I’ve used CoT for about a year and it works for me but HMRC is merely the cherry on the cake. I’m not sure I would bother for that reason alone.