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Yes - You would have to close it before 31st Dec to avoid the tax for next year.If I close my account next March will I be charged for the tax year 1st Jan to 31 dec 2004 ?
No - it is on a current year basis. The tax you paid this year was for this year. The tax you pay next year is for next year.Is the tax we that we will pay next April 2004 on credit cards accounts opened at any time between 1 Jan - 31 Dec 2003?
The credit card year runs from 1 April - 31 March. It wasn't changed in line with the tax year change (which seems silly - maybe they'll correct that in the forthcoming budget).Rainyday:
You pay €40 for each cc account which is open during the tax year 1st Jan-31st Dec. So yes, you will avoid the €40 for this year if you wait until January to open the account.
The point I made referred to the fact that my tax paid - €40 covers the period 01 04 2003 to 31 03 2004.
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