Company Debit Card

[cojak]

I'll deal with this when I get back from me hols - I'll see what my accountant says then.

[OrangeHopper]

Why subject yourself to the completion of a P11D when you don't need to?

[malvolio]

It is, but only for benefits in kind. If the expense is wholly for company business (for example, my rail ticket, since there's no way I'd travel up to London every week and spend 9 hours a day there for fun) and the company pays for it, it doesn't have to go on the P11D, since the money involved never touched your personal bank accounts. OK, you have to be pretty clear about what is and isn't a BIK, but that's about it.

It's really not that hard to understand, is it?

[boredsenseless]

Mal,

I do claim this back - I just use my ordinary credit card and my own company expense sheet, that's all. (And keep the receipts, of course...)

Okay and I assume that you include all this company expenditure on your private tax return then? Unless of course you have a dispensation!

[OrangeHopper]

Ah, as usual I missed a vital piece of information.

Suggest you get a company debit/credit card and problems are solved.

P11D sooooo much easier too.

[cojak]

Mal,

I do claim this back - I just use my ordinary credit card and my own company expense sheet, that's all. (And keep the receipts, of course...)

[malvolio]

No. (Where do you find these people, FFS). Does anyone want to try buying a train ticket against a purchase order, or lunch in MacDonalds?

You need an audit trail for the purchase, and for VAT you need the suppliers VAT details, so all you need is a properly formed receipt.

[OrangeHopper]

Has Cojak's accountant given her good advice says she can't use her company debit card unless the purchases is accompanied by an invoice for Cojak Ltd?