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The Finance Act 2008 makes provision for HMRC to accept payment of taxes by credit card but imposes a requirement for the taxpayer to pay a fee that corresponds with the costs incurred by HMRC in handling the payment.

In August 2008, new Regulations set the fee for credit card payments made by telephone at 0.91% of the payment.

Further Regulations have now fixed the fee for credit card payments made over the Internet at 1.25% of the payment.

The facility for employers to pay PAYE tax and NICs by credit card has not yet been introduced.

Further information:
The Taxes (Fees for Payment by Telephone) Regulations 2008
The Taxes (Fees for Payment by Internet) Regulations 2008

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The UK Payroll News is sponsored by HRD & Payroll Solutions

Written by Ian Congreave -

Filed under: PAYE Procedures on December 8th, 2008

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