Can anyone confirm something for me regarding getting an iPhone via my Ltd co?

[BolshieBastard]

Cheers folks. So I'm right then that the company will pay out the line rental and cannot claim that back aren't I? So it still effectively comes out of my pocket.

What, so you're expecting to get a totally free smartphone with hmrc re imbursing you the full costs!?

[mudskipper]

Worth noting, if you're thinking of registering for VAT FRS, buy your phone (and any other expensive items) first as when you do register you can reclaim the actual VAT paid on any expenses from the previous 6 months.

[Wanderer]

What, so you're expecting to get a totally free smartphone with hmrc re imbursing you the full costs!?

It's easy for people to think that way.

If you work for a permie employer and they give you a phone then it's great because it costs you nothing for these business expenses. What people overlook is that if they are the owner of the company then the business expense ultimately comes out of their pocket...

[ThomserveBAS]

It's easy for people to think that way.

If you work for a permie employer and they give you a phone then it's great because it costs you nothing for these business expenses. What people overlook is that if they are the owner of the company then the business expense ultimately comes out of their pocket...

Not that I'm disagreeing with you - but on other matters relating to business and personal money (i.e. matters around taxation etc.) then the forum message is that money in the business bank account belongs to the business and everything else is yours - this is the same view I take with expenses.

Ultimately, they come out of money I've earnt but as the money is in the business account, I don't feel too strongly about claiming legitimate business expenses. I don't view them as "free" but as "attracting a 20% discount" and I love a bargain

[Jay Cartay]

What, so you're expecting to get a totally free smartphone with hmrc re imbursing you the full costs!?

Nope. I just wanted to make sure I was armed with all the facts. I currently have a Galaxy Note 2 as my personal phone and am due an upgrade in June.

I've just decided to keep a separate business phone. That way I know that anonymous and private calls are legit before wasting my time answering them.

[MPwannadecentincome]

good info in this thread

Thanks guys - many good tips in just a few postings in one thread, this helps me plan for setting up my ltd co!