Originally posted by VectraMan
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Reply to: Buying stuff on eBay for company use
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Previously on "Buying stuff on eBay for company use"
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Originally posted by TheCyclingProgrammer View PostIn short, you're right, people probably worry too much about things like this but the more expensive it is, or the more likely it is that it could be construed as there being a personal benefit, or if it's a capital purchase, the more important it is to have proof it's in the company name.
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Originally posted by d000hg View PostWell, there is - there is the receipt of me purchasing it personally, and the accompanying expenses entry in my company accounts.
In other words, there's a difference between the company's business expenses, and your business expenses.
Unfortunately, HMRC don't go into a great detail on this. They mention it here:
Employment income: expenses payments and reimbursements
Businesses are often run in such a way that employees make payments on their employer's behalf. For example an employee may buy stamps for the employer and be paid from petty cash. This transaction is outside the scope of Section 62 and Section 72: the employee has received no money of his own on which we could make such a charge.
Maybe an accountant would like to chip in on this one?
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Originally posted by TheCyclingProgrammer View PostBuying something on the company's behalf is legitimate (although it's always better to try and pay for things using the company card) but there should really be some evidence of this unless it's for something trivial like stamps/stationary.
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Originally posted by VectraMan View PostYep. I don't know why people worry about this sort of thing so much. If you buy a train ticket to get you to your contract, you don't ask for it to have the company name on it, and most would just buy it personally and refund.
Buying something on the company's behalf is legitimate (although it's always better to try and pay for things using the company card) but there should really be some evidence of this unless it's for something trivial like stamps/stationary.
In short, you're right, people probably worry too much about things like this but the more expensive it is, or the more likely it is that it could be construed as there being a personal benefit, or if it's a capital purchase, the more important it is to have proof it's in the company name.
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Originally posted by Contreras View PostNo different to buying anything else personally and getting reimbursed. Same rules: wholly and exclusively, etc...
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Originally posted by FarmerPalmer View PostUse your current ebay account, but add in a second billing address with the company name and use that, add your company credit card to paypal and use that.
Therefore invoiced to company, and paid for by company, and not a personal transaction.
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Originally posted by d000hg View PostNot sure. But I don't really want my personal account linked to my company credit card either, so I just bought it personally and will treat it like buying something from Tesco/Staples for the business - keep the receipt and claim it back.
Selling is probably a bit harder as you have to account for ebay & paypal deductions, I get around that by hoarding things and never actually selling them.
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Originally posted by Contreras View PostDoes Ebay reputation even matter for buyers?
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Originally posted by d000hg View PostI needed a gadget for testing, and the best place price & choice-wise was eBay for a 2nd-hand one.
I'd rather buy as the company but have built up a reputation with my personal account and used that.
Is this any different to buying anything else personally and getting reimbursed?
That said, I have separate Ebay/Paypal accounts for the company and me, the former being quite clearly in the company name. Nothing to hide but I don't really want Hector browsing my personal Ebay activity thank you.
If you do buy through a private Ebay account you can still pay via YourCo's Paypal account or company debit card and reimbursement would be a non-issue.
Does Ebay reputation even matter for buyers?
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Use your current ebay account, but add in a second billing address with the company name and use that, add your company credit card to paypal and use that.
Therefore invoiced to company, and paid for by company, and not a personal transaction.
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Originally posted by d000hg View PostIs this any different to buying anything else personally and getting reimbursed?
However...I think if you make it clear to the seller you are purchasing on behalf of YourCo and they accept that and you have written evidence of this, that should be enough. Maybe you could ask the seller for an invoice in YourCo's name?
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Buying stuff on eBay for company use
I needed a gadget for testing, and the best place price & choice-wise was eBay for a 2nd-hand one.
I'd rather buy as the company but have built up a reputation with my personal account and used that.
Is this any different to buying anything else personally and getting reimbursed?Tags: None
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