cc 40 euro per annum stamp duty rate

Is the 40 euro per annum stamp duty charge being abolished on the 12 April 2005 or is it the 2 April 2005 (as was mentioned in the budget and finance bill 2005) when switching credit cards from different providers going ahead or have the banks delayed this? I'm looking at changing my credit card at the minute.

Found the answer to my own question; [broken link removed]

I cancelled my credit card due to the reduced consumer protection now available (I am talking about consumer not security) and the bastards still charge you the 40 euros. It just made my mind up NEVER to have one again.

Imogen

I rang PTSB this morning re getting their new ICE credit card and asked about the €40 charge, the guy on the phone said nothing has been finalised yet so if you change over now, in April, you still get charged another €40.

Moneypit said:

I rang PTSB this morning re getting their new ICE credit card and asked about the €40 charge, the guy on the phone said nothing has been finalised yet so if you change over now, in April, you still get charged another €40.

Click to expand...

That's exactly what I was told when I was enquiring about a BOI credit card in mid-March. As a result, I cancelled my AIB (old) credit card on 31/03/2005 and first thing on 01/04/2005 I lodged an application for a BOI credit card. This was my work-around the whole taxing thing. Sure, they say it's now 'abolished' - but I wasn't gonna take any chances!

BTW, AIB said that they would send me a letter confirming that my credit card account closed on the 31/03/2005, the last day in the 'financial' year.

-soc

There was a story in the Irish Times the other day where someone from the Revenue said that it would be necessary to have written confirmation from your existing CC provider that you had paid the tax for 2005/2006 if you switch to a new provider during the year. You would then provide this confirmation to your new provider to avoid the double charge.

I have been informed by BoI only late last week (too late to do anything about it), that there is also a charge (£28 stg) on Credit Cards opened in their British branches, if the address for the card is in the RoI. THis includes backdating to last year. Apparently this policy has only changed in the last 2 weeks, because I enquired at the start of March (with a view to closing it if necessary) and they assured me then that there was no charge.

I think its a bit underhanded of the BoI, or Revenue, to change the policy just like this without giving time to do anything about it.

I have been in touch with the bank and they did say they will look at closing the account as per my origional intention.