NEW CREDIT CARD PAYMENT FEES TAKE EFFECT
May 30 2016.


HM Revenue and Customs (HMRC) has introduced a new schedule of fees for those making payments by card. The fees replace the former 1.5 per cent fee and vary depending on the type of card used and whether the card is a personal or corporate card.


Broadly, the fees for paying using personal credit cards have been reduced and the rates for corporate credit cards have increased.

According to the explanatory memorandum to the Regulations, the change is being made to ensure HMRC recovers the costs for credit card use charged by the various card-providers.

The new rates can be found HERE.