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ralphmalph

Gordo's New Get The People In To Debt Wheeze

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I'm surprised you'd couldn't already pay your tax bill by credit card. After all, it is a 'bill'.

This only applies to those who do their own tax returns so I'm a bit disappointed I can't do this because my credit card (which I pay off every month of course :ph34r: ) gives me 1% cashback. So I'd be able to make money paying my tax, you have to laugh. :blink:

Edited: I suppose people who fill in their own tax returns are seen as maybe more finacially aware of the consequences of using a credit card? Said in jest by a poster above, but this could really be abused!

Edited by deflation

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Erm this is old old news accountant types have known for a while, what is less known is that you are charged 1.5% of the tax bill ONTOP of your tax liability as admin costs....

Having run a biz that took credit cards I was small fry but cost me 2% , bigger companies like the accountancy firm I used to work at used to cost them 0.8% per transaction per EPDQ and £50-£100 a month depending on how big you were.

Speedy gets charged 3% as he has a cash machine outside and asks customers to go outside to get some cash out and he gives a small 5% discount when you do this.

for a goliath type organisation like HMRC who has billions of tranactions they'll probably be charging VISA or what not 0.5% per transaction and thus HMRC gets to by stealth increase everybody's self assessment tax by 1%.

Edited by kennichi

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So it is a stealth tax on your tax.

Whoever could have thought of that?

Yes but you are not supposed to know that , in that EVIL VISA/MASTERCARD and AMEX are the supposed enemies of the state here.

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just HOW desperate is this all becoming.?

each day brings us closer and closer to a total disaster. what has this man done ?

and not to forget, while he was doing this, aside from vince cable,

no major political opposition mentioned it.

that means to me the other parties dont have any better solution.

so were screwed.

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A while back on the morning I was moving house which is stressful for anyone, they

revisited my contributions and offered to send the heavies round unless I paid up

5K in Great British Pounds.

Eventually sorted it out but the letter of "apology" advised I was probably theiving

scum and they'd be watching to see if my income changed but not to bother sending

in any more returns. :)

HMRC will lift anything shiny and take it back to their nest.

inlandrevenue.gif

kleptomania

n. An obsessive impulse to steal regardless of economic need.

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I dunno in the US and Hong Kong where everybody does self assessment you can pay by credit card...

Oh btw my charges are mere speculation btw in that looking at all the biz I've got experience with the more transactions you do and the bigger you are the lower the charges and the HMRC is very large. ...

As said Speedy gets 3% they have a 80K turn over

A resturant where I sometimes buy raw ingredients off their chef (for cost price he sometimes buys off me) with a 53K turn over pays 2.75%.

A bicycle shop which I was working on today with a 97K turn over did about 2.5% ,

My old accountancy firm paid 0.8% on 28 million turn over though admittedly many people paid by BACS and thus it wasn't often used..

HMRC has a 550bn turn over and thus I predict their charges are going to be awful low as the card companies get by on volume rather than price , ie HK's oyster card has a absolutely minimal charge for the vendor but they have several trillion transactions a day as you can use the card for anything you want and thus make a huge pile of money by doing that.

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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