Company paypal account

[Jamy]

I've set one up for my company to do just this. One payment yearly to Canada which I find easier and cheaper through paypal. Bit of a pain to set up, with mutliple hoops to jump through.

[adubya]

I've set one up for my company to do just this. One payment yearly to Canada which I find easier and cheaper through paypal. Bit of a pain to set up, with mutliple hoops to jump through.

Paypal business account or individual account ?

[Jamy]

Business Account

[blacjac]

We've had a Papyal Business account for years with no problems. We never keep any money in there, just link it to the company debit card so purchases come out of the company bank account.


Keeps it simple when buying software licenses etc from the states.

[TheFaQQer]

Wouldn't it be just as easy to pay with a personal credit card and claim it back? Or is there some sort of cash flow/credit option making this difficult?

Apart from the difference between wholly and exclusively if paid for personally, and incidental use if paid for by the company, yes.

Ask your accountant to explain the difference if you're not sure.

[TheFaQQer]

We've had a Papyal Business account for years with no problems. We never keep any money in there, just link it to the company debit card so purchases come out of the company bank account.


Keeps it simple when buying software licenses etc from the states.

This. It's simple enough to create for your company and you even get a penny or two from them when they do the initial authorisation test to approve your card / account.

[northernladuk]

Apart from the difference between wholly and exclusively if paid for personally, and incidental use if paid for by the company, yes.

Ask your accountant to explain the difference if you're not sure.

You are in a grumpy mood today.

[TheFaQQer]

You are in a grumpy mood today.

I'd have thought that you'd know the difference (or know someone to ask )

If you pay for something personally and then claim it back, you fall into the "wholly and exclusively" limitation. However, if you buy through the company then you may be able to use the item personally as well with some incidental use.

Imagine you need to know where to go to get to client site (some cars apparently don't have in built navigation, nor a chauffeur). So you buy a sat nav device and leave it in the car. If you pay personally and claim it back, then it could be argued that it's not a business expense because it's not wholly and exclusively for the business since you could use it yourself. However, if you bought it through the company directly, then you would still be able to use it personally as an incidental use. See posts passim ad nauseum for more details.

(That better? Now **** off and ask your accountant )

[northernladuk]

I'd have thought that you'd know the difference (or know someone to ask )

If you pay for something personally and then claim it back, you fall into the "wholly and exclusively" limitation. However, if you buy through the company then you may be able to use the item personally as well with some incidental use.

Imagine you need to know where to go to get to client site (some cars apparently don't have in built navigation, nor a chauffeur). So you buy a sat nav device and leave it in the car. If you pay personally and claim it back, then it could be argued that it's not a business expense because it's not wholly and exclusively for the business since you could use it yourself. However, if you bought it through the company directly, then you would still be able to use it personally as an incidental use. See posts passim ad nauseum for more details.

(That better? Now **** off and ask your accountant )

He specifically said office equipment.

[TheFaQQer]

He specifically said office equipment.

And computers and printers etc.

So what's your point, caller?