Company credit - How?

[MrC]

Afternoon all.
Tried to buy a mobile phone on contract from major high street retailer a week ago. Went through both their internet and in-store sales channels and the outcome in both cases was being reffered and ultimately declined on basis of company credit check. Embarked on a palava to write to them in attempt to overturn the decision but in the meantime this experience has got me thinking....


Whats wrong here and what needs fixing?
-Good personal credit rating.
-Company trading for ~18months but yet to file first years accounts.
-Bank account, chequebook, deffered debit card but no credit cards held.
-Registered address held at accountants, Trading address different.
-No other known issues/debts etc.


Why does anyone ever want to lend to a ltd co? Surely the lender risks the company profits being widthdrawn and then closed down then having no-one to chase?

[SueEllen]

Odd.

The only things I can think off are:
1. Lack of company credit card
2. Lack of first year trading accounts

Though I'm surprised they didn't offer you a phone for a small deposit.

Personally I would see what the networks offer you company directly rather than going through a high street retailer.

[MrC]

Personally I would see what the networks offer you company directly rather than going through a high street retailer.

Sorry- they are a network who have high street stores.

[SueEllen]

Sorry- they are a network who have high street stores.

Ahhh.

I would file your accounts then a couple of months after that try again.

[blacjac]

I opened a business account with 2 phones during the first month of trading.....
In a previous life I had to deposit a couple of hundred quid with T-Mobile in a new business for them to allow the same
What network was it?

[MrC]

I opened a business account with 2 phones during the first month of trading.....
In a previous life I had to deposit a couple of hundred quid with T-Mobile in a new business for them to allow the same
What network was it?

T-mobile

[blacjac]

Probably best to try again then

What I did was phone their business phone call centre and discuss the possibilities with them, if I remember correctly the deal I struck was to pay them the first 300 up front and to agree to no roaming for the first 6 months of the contract.

[MarillionFan]

Why don't you just take the phone out in your name and expense it like most people?

[SueEllen]

Why don't you just take the phone out in your name and expense it like most people?

He then has the difficulty where he has to workout the proportion of his personal and business calls on the phone.

I doubt HMRC would ever believe that a phone taken out on a personal contract is 100% used for business calls.

[MarillionFan]

He then has the difficulty where he has to workout the proportion of his personal and business calls on the phone.

I doubt HMRC would ever believe that a phone taken out on a personal contract is 100% used for business calls.

Really some people make it far too co
plicated for themselves. I have never ever heard of anyone being auditted and asked to go through their mobile phone records item by item.

Some people are so anal and afraid of what HMRC might say or do, I'm surprised that they have the bottle to leave the house in the morning.