01603 616300

Or contact your local office

HMRC Will No Longer Accept Personal Credit Card Payments for Self-Assessment

November 2017

Man holding credit cardFor as long as most of us can remember, HMRC has accepted personal credit cards as a payment method for self-assessment tax bills. However, this is set to change on 13th January 2018.

Paying with a personal credit card has long been a popular means of payment for sole traders and businesses, even with a surcharge because of its convenience when it comes to budgeting and managing cash flow. If you are someone who prefers to pay your tax bill via a credit card, the good news is that you still can providing it’s a business registered one.

The problem is, most sole traders don’t have a business registered credit card. Therefore, if you wish to continue paying your taxes this way, you ought to start applying for one now, because it can take months to apply for and activate one.

As for why HMRC has introduced this ban on credit cards, it seems as though it’s to counter the ban on surcharges on credit card payments, also being introduced on the same day. HMRC claim that they would have to absorb the surcharge cost at a loss, hence the change in policy.

Those wishing to continue paying by credit card have two options, you can either make payment now while the ban hasn’t been implemented, or you can begin the process of applying for a business credit card.

If you have any questions about anything relating to this blog post, please do not hesitate to get in touch with us. Have a read of our full guide to self-assessment tax returns, which has more detail too.

2 thoughts on “HMRC Will No Longer Accept Personal Credit Card Payments for Self-Assessment

  1. Keith Gambles says:

    Does this effect personal debit cards as well?

    1. Aston Shaw says:

      Hi Keith,

      Thanks for your question.

      No, it doesn’t, you can still make payments via a debit card. This change in policy only affects personal credit cards.

      Many Thanks,

      Aston Shaw

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for our news and business insight newsletter

No spam. No waffle. Just useful, practical and valuable news and insight, straight to your inbox. We always protect your personal data.

Aston Shaw Twitter Logo

We're at the @NorfolkB2B! Come and say hello to us on Stand 30! #NorfolkB2B19There's free #prosecco and #beer 🍾🍻👀 pic.twitter.com/Vwvptn5pC7

Yesterday from Aston Shaw's Twitter via Twitter Web App

Client Login

Secure Document Exchange Login

To request access to use the Client Login feature, please email:


client@astonshaw.co.uk

Username:
Password:

You have Successfully Subscribed!

Secure Document Exchange Login

Please email or call your Client Manager directly to be set up with access or if you have lost your login credentials.


Username:
Password:

You have Successfully Subscribed!