Originally posted by cojak
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Business Credit Card recommendations
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I've been thinking about switching from my AMEX Business card to just my Business bank account Debit Card.
In terms of whether you need to report it on P11D, I always go with the rules here:
https://www.gov.uk/expenses-benefits...s/whats-exempt
So I use the company card for business travel (hotels / flights / train) to client site (recharging the cost to the client via invoice if not covered by day rate), buying equipment (like laptops and business related software) and that's about it. Any personal expenses like cabs, personal drinks at the bar etc - I don't bother claiming back from the company and take the hit myself. I do charge entertainment to the business CC (taking clients out etc, Christmas party etc).
So why stay with AMEX? Probably due to the Membership Rewards I get through AMEX. Worth the £125 fee per year? Hmm....Comment
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Originally posted by TheCyclingProgrammer View PostI'm assuming you only want a company credit card to make company purchases (i.e. in the company name) rather than for out of pocket expenses, as the latter would still need to be reported under the credit cards section on the P11D? Does your business bank account not have a debit card for company purchases?
I already have a debit card. I like using credit cards rather than debits for the protection they offer."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Originally posted by cojak View PostExactly TCP.
I already have a debit card. I like using credit cards rather than debits for the protection they offer.Comment
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Originally posted by TheCyclingProgrammer View PostDo business credit cards offer much protection? I thought they weren't covered by the Consumer Credit Act. Are they covered by something else?Comment
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I have a company Barclaycard, and interestingly I've had nothing from them about stopping the card, but I did get a letter today telling me they are increasing the credit limit on the card.Comment
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Off the back of my last thread, I thought I'd take a punt and apply for a HSBC Business credit card yesterday. I've been with them since Jan this year and it sailed through the automatic online application with a £1k limit. It did a credit check on me, but you don't personally have to guarantee the debt until you want £3k+.Comment
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Originally posted by vwdan View PostOff the back of my last thread, I thought I'd take a punt and apply for a HSBC Business credit card yesterday. I've been with them since Jan this year and it sailed through the automatic online application with a £1k limit. It did a credit check on me, but you don't personally have to guarantee the debt until you want £3k+.
And on the other point, I've never understood why I should spent my money on company business expenses, even with a reclaim. However, if you get a cashback deal on something that you have reclaimed in full, who actually gets the cashback - you, or YourCo?
Then if it's you - as I suspect most would prefer - then why is it not a BIK, since it was earned on the back of company expenditure and you wouldn't have got it otherwise??
Questions, always questions...Blog? What blog...?Comment
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Originally posted by malvolio View PostThen if it's you - as I suspect most would prefer - then why is it not a BIK, since it was earned on the back of company expenditure and you wouldn't have got it otherwise??
I agree that generally speaking, company expenses (rather than employee out of pocket expenses) should be paid for directly by the company whenever possible however there are times when you don't have any choice - you might not have access to your company debit/credit card, your business card might be rejected (this has happened to me before due to anti-fraud so I had to use my personal card).Comment
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