Fee for HMRC payments

Yes. It varies per card, so can’t give an exact figure, but try a dummy run and you will see that the HMRC fee for using a corporate credit card alone will destroy any value; and that’s before any fees at COT’s end…

I wouldn’t say “destroy any value” as it’s still tax deductible but yes, it’s now marginally more expensive than Curve. I don’t mind actually as it’s still a good way of extracting something (Avios) from my business spend.

I tried my capital on tap card yesterday and fee was £17 on £1000 at HMRC so 1.7%

Hmm.. combine the £99 CoT fee with the 1.7% and there surely is a better way to earn Avios with HMRC?

First timers signing up do get 10,500 bonus Avios via HfP though, so it’s worth adding that to your calculations

optomdad wrote:

Yes but if it for business taxes, there’s already a 32.5% saving. Then the Avios are worth 1p, then the cashflow that has been freed up also has value to those that need it/utilise their overdrafts

That 32.5% saving will depend on whether sole trader, rate of tax, ltd company etc of course 🙂

Where did I miss the notification for increased fees from Curve / COT for HMRC payments?