Do any banks offer cards to businesses with no annual fee?

[Boo]

I'm looking for a business credit card (or charge card for that matter).

Only to echo other posters here and mention that if you happen to bank with Cater Allen then they do a deferred Debit VISA card where items are charged to your card immediately but don't appear as debits on your account until the end of the month. This means you keep earning interest on the money you've spend in the month which might mean something to someone

Also, just to add that there is no charge for this card.

Boo

[Mr.Whippy]

This means you keep earning interest on the money you've spend in the month which might mean something to someone

Yeah, I expect all those with £500,000+ balances are really jumping up and down with the 0.40% interest they're receiving

[Lumiere]

Yeah, I expect all those with £500,000+ balances are really jumping up and down with the 0.40% interest they're receiving

Indeed, it does more harm than good if you think of all associated accounting efforts, VAT Returns etc. ...

[Mr.Whippy]

Indeed, it does more harm than good if you think of all associated accounting efforts, VAT Returns etc. ...

So, does getting interest in your bank account incur VAT?

[Lumiere]

So, does getting interest in your bank account incur VAT?

You have to include it in VAT Returns if you operate the flat scheme ..

[Mr.Whippy]

You have to include it in VAT Returns if you operate the flat scheme ..

Ah ok... well would be nice if I was in the position of having enough money in my account to earn interest in the first place........

[Wanderer]

TMy current business account is with Cater Allen. They do offer a card - but looking at the details I have to have had an average balance of £5k for the last 6 months. I didn't sign up for a card when I got the account, as the company was too recently established at that point.

You must have a pretty low turnover if you don't average at least £5k in your business account? I mean, there is VAT and CT to be retained there so that adds up pretty quickly, no? Or has your company just been setup...

[d000hg]

• A free debit card is easy from HSBC, Santander, etc
• A business credit card is easy, HSBC offered me one with first year free
• I don't think it's normal for busines credit cards to be free, business banking does not follow same rules as personal banking

[mat8iou]

You must have a pretty low turnover if you don't average at least £5k in your business account? I mean, there is VAT and CT to be retained there so that adds up pretty quickly, no? Or has your company just been setup...

I try & keep the minimum of money tied up in the company - any money for VAT, CT & PAYE gets transferred to a separate deposit account (to earn ridiculously tiny levels of interest...).

It might be that I'm at the 5K level - it would depend a lot on exactly how they calculate the average though. I'll give them a call & see what they say.

[d000hg]

So you pay your company VAT and company tax from a personal account? That sounds dodgy. It means your company accounts don't actually hold enough funds to pay tax, which I didn't think was allowable.