Business Credit Card recommendations

[TheCyclingProgrammer]

I find a business cc very useful for big company purchases like training and laptops, and I don't have to bother too much with P11D.

The training is particularly useful as I have a little more leeway with the type of training if the company pays for it.

But it looks as if I'll just have to go back to using my personal cc and expense it back to the company.

I'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?

[pacontracting]

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....

[cojak]

I'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?

Exactly TCP.

I already have a debit card. I like using credit cards rather than debits for the protection they offer.

[TheCyclingProgrammer]

Exactly TCP.

I already have a debit card. I like using credit cards rather than debits for the protection they offer.

Do business credit cards offer much protection? I thought they weren't covered by the Consumer Credit Act. Are they covered by something else?

[pacontracting]

Do business credit cards offer much protection? I thought they weren't covered by the Consumer Credit Act. Are they covered by something else?

I thought so too. The consumer credit act protects only 'Individuals' so that would be a person, a sole trader or partner but I don't think it covers a situation where the Credit Agreement is between a Company and a Credit Card Company. That being said - a lot of 'Business' credit cards make it clear the agreement is between the individual named and that they are responsible for the debt etc - so I think it depends on the specific Credit Card agreement you sign (where it says, 'This agreement is between.... etc).

[ee61re]

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.

[vwdan]

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+.

[malvolio]

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+.

You can have an HSBC card for each officer of the company, so if the other half is Co Sec you get £6k limit total. You can then divide that between the two cards however you see fit; so my limit is £5k, which I used to use up most months when commuting by air to the frozen north (well, Yorkshire, to be precise) and SWMBO's is £1k, just in case.

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...

[TheCyclingProgrammer]

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??

Presumably because its entirely incidental to the purpose of the expenditure (unless you really are just buying something just to get the benefit of cash back - which would be very difficult to prove - in which case the whole expense should technically fail the wholly and exclusively rule and not be an allowable expense for YourCo).

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).