From 13 January 2018 an EU directive which bans surcharges on Visa and Mastercard payments will soon have an effect in the UK, and will force the government into introducing a ban on credit and debit surcharges in the UK. This will mean that from that date retailers and traders will no longer be able to pass on charges to users for spending on a credit or debit card.
The effect on Self Assessment payments will be that anyone trying to pay their bill with a personal credit card will have their payment refused. The alternatives will be that an individual will have to use a business credit card, or if they haven’t got one, make the payment by bank transfer or debit card. Small businesses and sole traders are being urged to plan their cashflow requirements in advance to prevent problems in January when Self Assessment payments become due.
