HMRC – no payments by credit card in January 2018

WHA’s Nikki Spoor has posted another entry to the ICAEW Travel, Tourism & Hospitality community:-

HMRC have announced that from January 2018 they will be unable to take payment for tax via credit card.  In a blog I wrote 8 months ago I outlined the changes and the implementation date being January 2018.  These changes were instigated by the Second Payment Services Directive (PSD2), which outlined that there could be no onward charging consumers for credit or debit cards.  This includes HMRC who have said that they cannot absorb the costs of the merchant providers for credit card facilities and therefore no payments will be taken by credit card.  Debit cards payments will still be possible, as the underlying costs are not as high.  This is poor timing for the payment of self-assessment tax in January for clients, so would suggest that clients are advised in advance of these changes.

for access to this blog entry and to keep up to date with the latest legislative changes ocuring within our industry click here.