1st April or 1st Jan for stamp duty tax on ATM cards, Debit cards and Credit Cards?

J

Joe Nonety

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Which date is used as the start of the year as far as ATM cards, Debit cards and Credit cards are concerned?
 
Re: 1st of April or 1st of January for tax on financial cards?

I thought it was 1st January.

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Re: 1st of April or 1st of January for tax on financial cards?

It seems from Clubmans link to the revenue site, that Credit card stamp duty is due on 1st April but 31 December is the date for ATM/Debit cards.
 
Re: 1st of April or 1st of January for tax on financial cards?

It seems I better cancel my credit card now in order to avoid another €40 tax in April 2008. I'm currently waiting on some money to get transferred from a company to my credit card though. If I cancel my card will that prevent that from happening?
 
Re: 1st of April or 1st of January for tax on financial cards?

It shouldn't! I just spoke to my old visa card company today and my credit card account which is closed is still open to receive incoming payments (for eg. refunds) and to pay out any direct debits (don't forget to cancel those too!)...but I suppose it would be no harm to check with your own visa card company. That was AIB.
 
Re: 1st of April or 1st of January for tax on financial cards?

Hi Everyone,

Ive a quick question on stamp duty on credit cards. I currently have two credit cards, i finally paid off the balance on one of them yesterday and i wanted to cancel the card before the 1st April but i was told i would still be liable on the stamp duty for this card. Is this true? I thought it was prepaid for the year.

Secondly if i pay them the stamp duty can i obtain a letter of closure from them and pass it onto my new credit card company therefore avoiding any further liabilty to stamp duty?

Thanks in advance.

Jockey
 
Re: 1st of April or 1st of January for tax on financial cards?

Don't forget if you close a credit card now you'll be charged €40.00 on closure, for 2006-2007 stamp duty. But won't liable for 2007-2008 stamp duty in April 2008, as long as closed before 1 April 2007.
 
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