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Does anyone know what the fee for using a COT card to make HMRC payments is? Now that Curve Metal isn’t worth doing, I assume the fees of using straight COT are too high to bother with?
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…
Thanks, afraid this would be the case. Annoying Fronted has been hobbled, used to do £100k pa through it!
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 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.
Would you mind telling me what the fees actually are when you do this?
I tried my capital on tap card yesterday and fee was £17 on £1000 at HMRC so 1.7%
I tried my capital on tap card yesterday and fee was £17 on £1000 at HMRC so 1.7%
thanks, just did the same myself. Not much point paying 1.7p per Avios…
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
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
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 🙂
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
more like 1.15p. Even at 1p it’s pretty uninspiring, unless it’s not your money you’re buying them with…!
Where did I miss the notification for increased fees from Curve / COT for HMRC payments?
Where did I miss the notification for increased fees from Curve / COT for HMRC payments?
Nothing to do with COT, everything to do with Curve. You would have received an email in mid-September, where the additional fees were buried in the small print on a linked page
There’s a lively debate on the “other payment cards” board, where Curve discussions reside: https://www.headforpoints.com/forums/topic/curve-changes-from-november-10th/
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