Statutory Instruments
Revenue And Customs
Made
13th December 2017
Laid before the House of Commons
15th December 2017
Coming into force
13th January 2018
The Commissioners for Her Majesty's Revenue and Customs make the following Regulations in exercise of the powers conferred by section 136(1) to (3) of the Finance Act 2008(1).
1. These Regulations may be cited as the Fees for Payment of Taxes, etc. by Credit Card (Amendment) Regulations 2017 and come into force on 13th January 2018.
2. The Fees for Payment of Taxes, etc. by Credit Card Regulations 2016(2) are amended as follows.
3.-(1) For regulation 1(3)(a), substitute-
"(a)if given to an individual, would be a credit-token within section 14(1)(b) of the Consumer Credit Act 1974(3), and".
(2) In regulation 1(3)(b), omit "or Table 2".
(3) In regulation 2(2), for the words from "or Table 2" to the end, substitute "in the Schedule.".
4. In the Schedule-
(a)omit Table 2; and
(b)for Table 1, substitute-
Type of card | Rate (%) |
---|---|
VISA Business Credit Card | 1.70 |
VISA Commerce Credit Card | 2.80 |
VISA Corporate Credit Card | 1.94 |
VISA Purchasing Credit Card | 1.92 |
VISA Commercial Credit Card | 1.94 |
MasterCard Business Credit Card | 1.80 |
MasterCard Corporate Credit Card | 1.98 |
MasterCard Purchasing Credit Card | 2.20 |
MasterCard Fleet Credit Card | 1.97 |
MasterCard Commercial Credit Card | 1.98" |
Justin Holliday
Angela MacDonald
Two of the Commissioners for Her Majesty's Revenue & Customs
13th December 2017
(This note is not part of the Regulations)
These Regulations, with effect from 13 January 2018, amend the Fees for Payment of Taxes, etc. by Credit Card Regulations 2016 (S.I. 2016/333).
Regulations 3 and 4 remove references to personal credit cards to reflect changes, coming into effect from 13 January 2018, to ways of paying HMRC.
Regulation 4 also updates the rates used to calculate the fees payable where corporate cards are used. For comparison, the rates before and after the amendment are set out in the following table.
Type of card | Old rate (%) | New rate (%) |
---|---|---|
VISA Business Credit Card | 1.508 | 1.70 |
VISA Commerce Credit Card | n/a | 2.80 |
VISA Corporate Credit Card | 1.744 | 1.94 |
VISA Purchasing Credit Card | 1.755 | 1.92 |
VISA Commercial Credit Card | n/a | 1.94 |
MasterCard Business Credit Card | 1.973 | 1.80 |
MasterCard Corporate Credit Card | 2.248 | 1.98 |
MasterCard Purchasing Credit Card | 2.406 | 2.20 |
MasterCard Fleet Credit Card | 2.134 | 1.97 |
MasterCard Commercial Credit Card | n/a | 1.98 |
A Tax Information and Impact Note covering this instrument will be published on the government website at http://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.
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