The Taxes, etc. (Fees for Payment by Internet) Regulations, SI 2011/711, set the fee payable in respect of a credit card payments, where authorisation is given by internet, at 1.4% with effect from 1 April.
The Taxes, etc. (Fees for Payment by Internet) Regulations, SI 2011/711, set the fee payable in respect of a credit card payments, where authorisation is given by internet, at 1.4% with effect from 1 April.
The fee was previously 1.25%. The fee rate ‘ensures that [HMRC] recover the cost of processing credit card transactions, but no more than this’.
‘The original rate has been reviewed in light of the volume and value of transactions, the type of credit card used and the commission fee charged by the credit card issuers,’ HMRC said. The rate will be reviewed annually.
The Taxes, etc. (Fees for Payment by Internet) Regulations, SI 2011/711, set the fee payable in respect of a credit card payments, where authorisation is given by internet, at 1.4% with effect from 1 April.
The Taxes, etc. (Fees for Payment by Internet) Regulations, SI 2011/711, set the fee payable in respect of a credit card payments, where authorisation is given by internet, at 1.4% with effect from 1 April.
The fee was previously 1.25%. The fee rate ‘ensures that [HMRC] recover the cost of processing credit card transactions, but no more than this’.
‘The original rate has been reviewed in light of the volume and value of transactions, the type of credit card used and the commission fee charged by the credit card issuers,’ HMRC said. The rate will be reviewed annually.
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