Company Credit Cards

[Ploptimus]

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...

I opened up a CoT last month, It will still be value for this year I guess but may have to revise for next year without the 1st 3 month signup. At least I can pay one 1/4 VAT and my CT from last year on it before end of Oct.

[Ploptimus]

I noticed while on the tube today Paypal are advertising their Mastercard Debit with 0.5% cashback which may be useful for paying VAT/CT once the CoT one switches.

Business Debit Card - Mastercard for Business | PayPal UK

[BritCanadaNewb]

Hi Folks , great thread . What is the latest with this as I’m
About to pay off a large VAT bill. Is it the PayPal Credit Card? Or curve card or CoT to accrue points ?

[kryten22uk]

Hi Folks , great thread . What is the latest with this as I’m
About to pay off a large VAT bill. Is it the PayPal Credit Card? Or curve card or CoT to accrue points ?

Still just as above really. CoT option gone for new entrants. Curve option very much alive, but their limits start lowish, so if you have a "large VAT" bill you're unlikely to be able to cover it all by Curve until you build up experience with them such that they raise your limits. But youve got to start somewhere eh! My limit is now £20k monthly and £100k annually. See upthread for my referral code if u want £5 joiner bonus. There is also the Tesco Debit card route. You just sign up online for a Tesco current account and it comes with a debit card which earns 1 Clubcard point per £8 spend. This can transfer into Avios or Virgin miles. Not a huge earn ratio, but it's simple and without limits.

[ladymuck]

Still just as above really. CoT option gone for new entrants. Curve option very much alive, but their limits start lowish, so if you have a "large VAT" bill you're unlikely to be able to cover it all by Curve until you build up experience with them such that they raise your limits. But youve got to start somewhere eh! My limit is now £20k monthly and £100k annually. See upthread for my referral code if u want £5 joiner bonus. There is also the Tesco Debit card route. You just sign up online for a Tesco current account and it comes with a debit card which earns 1 Clubcard point per £8 spend. This can transfer into Avios or Virgin miles. Not a huge earn ratio, but it's simple and without limits.

Wouldnt' the Tesco card be a personal one? Not sure that HMRC accepts personal cards for business tax bills (or is that just credit cards, can't remember and too lazy to look it up this evening)

[kryten22uk]

Wouldnt' the Tesco card be a personal one? Not sure that HMRC accepts personal cards for business tax bills (or is that just credit cards, can't remember and too lazy to look it up this evening)

HMRC doesn't accept personal credit cards, only personal debit cards. It accepts business credit and business debit cards.

HMRC will accept a personal card to pay a business tax, and vice versa.

[SimonMac]

I’d say a bigger issue with the Tesco route would be what would it be said about payments going from your business account to a personal account before paying any VAT or Corp Tax

[kryten22uk]

I’d say a bigger issue with the Tesco route would be what would it be said about payments going from your business account to a personal account before paying any VAT or Corp Tax

Why is that an issue at all? It's just the same as any payment from directors loan account.

Alternatively, you could also just pay the tax from personal cash and subsequently get reimbursed from company.

[BlueSharp]

Is the right way to do this to get a CoT credit card link it to curve and pay HMRC and day to day expenses using the Curve card?

[SimonMac]

Is the right way to do this to get a CoT credit card link it to curve and pay HMRC and day to day expenses using the Curve card?

I don’t think they are accepting new CoT applications.

I think the only way to get anything back at the moment is with PayPal 0.5% cash back