Debt fears over tax bill payments
Debt fears over tax bill payments
Thursday 22nd January 2009
HM Revenue & Customs recently announced that credit card payments will be accepted for self-assessment, PAYE and other forms of tax for the first time this year.
However, some experts are worried that the charges imposed - a 1.25 per cent transaction charge or 0.91 per cent for self-assessment tax bills paid over the telephone – will lead to increased debts, moneywise.co.uk reports.
Tom Howard, spokesman for the Consumer Credit Counselling Service, told the website: "On one hand, it is good that HMRC is allowing people to be more flexible but there is a real risk that people could stick their bill on credit card without knowing how they are going to pay it off."
January 31st is HMRC's deadline for self-assessment tax returns.
News article brought to you by SimpleIVA – UK IVA specialists.
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