Company Credit Cards

[Ploptimus]

That's interesting, the email they sent a few weeks or so ago said end of October.

I got the same email so paid off my CT this month with it.

[gizzmo]

For thems looking to get the Capital On Tap card to earn Avios on fee-free HMRC payments, you may be disappointed to learn that "due to Brexit" they are changing the card to a Visa Credit Card from 31 October. This means that payments to HMRC will now incur fees.

New applicants will receive a Visa credit card. Existing account holders can use their Mastercard until 31 October, by which time you will have received the new Visa card.

All other account benefits remain the same.

I do have to ask why they didn't change the card in March...

Oh gosh - I wasn't aware of this - got to do my corp tax return early then and pay the corp tax (£20k plus) before the end of Oct to max the Avios then...

[ladymuck]

Oh gosh - I wasn't aware of this - got to do my corp tax return early then and pay the corp tax (£20k plus) before the end of Oct to max the Avios then...

Well call and check first as there's posts above which imply the change has been delayed

[BlueSharp]

Well call and check first as there's posts above which imply the change has been delayed

Im confused. I thought Mastercard and visa via cash on tap were both credit cards so subject to the hmrc fee. Is this not the case?

[ladymuck]

Im confused. I thought Mastercard and visa via cash on tap were both credit cards so subject to the hmrc fee. Is this not the case?

Sigh

The Cap on Tap MasterCard acts like a credit card in that you don't have to pay it off every month and will incur interest if you carry a balance. To HMRC it looks like a debit card so attracts no fees. This is because, technically, it's a prepaid card but you're not the one doing the prepaying.

The replacement Visa product which may/may not kick in from 31 October looks like it is going to be a standard Visa credit card and so will now attract a fee when you pay HMRC. Other than the logo on the card (and that fee) you won't really notice any difference in the running of your account.

[BlueSharp]

Received my CoT card today. I can confirm it is a master card with prepaid commercial wrote on it.

[ladymuck]

Received my CoT card today. I can confirm it is a master card with prepaid commercial wrote on it.

That's good. I had heard rollout of the Visa had been delayed, the longer the better!

[northernladuk]

That's good. I had heard rollout of the Visa had been delayed, the longer the better!

With a bunch of inside contractors it could be awhile.

[SimonMac]

Received my CoT card today. I can confirm it is a master card with prepaid commercial wrote on it.

When did you apply?

[BlueSharp]

When did you apply?

Two weeks ago.