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Credit Card Stamp Duty Legislation

  • 08-09-2005 1:41pm
    #1
    Tazz T
    Registered Users, Registered Users 2 Posts: 3,210 ✭✭✭


    Does anyone know if where I can find all the info I need about this legislation which came into effect in April.

    According to the Indo today you only have to pay one fee no matter how many credit cards you have. MBNA appear to think otherwise.


Comments

  • #2
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    Hi Tazz,

    Some basic info is here (see Financial Cards section) on the Oasis site and the exact legalese of it is here on page 206 of the Finance Bill (2003).

    AFAIK you do have to pay the duty per card, but only once per year i.e. if you switch providers you don't have to pay the stamp duty charge twice (but I am open ot correction on this).

    HTH

    S.


  • #3
    Tazz T
    Registered Users, Registered Users 2 Posts: 3,210 ✭✭✭Tazz T


    OK. Found the information I need over at the revenue's site.

    The Indo is in error. You pay the charge on each CC account.

    Mind you, that opens up an grey area, where you can show a statement of closure from your old credit card account to each new credit card provider.

    Interesting!

    (Thanks for the info Spock. Think we posted at the same time)


  • #4
    jhegarty
    Registered Users, Registered Users 2 Posts: 6,441 ✭✭✭jhegarty


    Tazz T wrote:
    Does anyone know if where I can find all the info I need about this legislation which came into effect in April.

    According to the Indo today you only have to pay one fee no matter how many credit cards you have. MBNA appear to think otherwise.


    whats changed is that you cancel one card and get a new one , and still only pay once (i think you get a refund on the first one)... as long as only one card is active at any time...


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