Company smartphone

[northernladuk]

Your company is called boobs cause it certainly isn't shelloil?

[Platypus]

I would claim expenses from your company for the cost of the phone, including the eBay receipt as proof or purchase.

Then I'd get a contract in YourCo's name for the monthly (Sim Only) amount.

[b r]

thanks for your replies all. I think I'll keep it simple by just putting the monthly contract on the company and keep my phone as a personal asset.

We do the opposite, handsets bought by the business and SIM-only contracts in our own names, then charge the contract cost and accept it's taxable.

Contracts are all of £10pcm each while iPhones cost a wee bit more.

[Contreras]

thanks for your replies all. I think I'll keep it simple by just putting the monthly contract on the company and keep my phone as a personal asset.

Which is fine if all the calls are for business. Otherwise paying for the contract on a personal phone is to be treated as BiK. That is, if my memory serves correctly and the rules haven't changed since way back.

Fwiw, I don't see an issue with expensing the handset to Your Co.

In future though you may want to operate separate eBay and PayPal accounts for business (albeit 'personal' accounts with your co in the address) funded by the co debit card. Similarly for Amazon, etc.

[northernladuk]

Should have told him to speak to his accountant really shouldn't I?

[TheCyclingProgrammer]

Which is fine if all the calls are for business. Otherwise paying for the contract on a personal phone is to be treated as BiK. That is, if my memory serves correctly and the rules haven't changed since way back.

Only if the contract is in the employee's name. If its in the contract is in the company name I don't see why it would be a BIK. The company can provide a SIM/contract for both business and personal use, what it can't do is pay the employee's bills.

[Contreras]

Only if the contract is in the employee's name. If its in the contract is in the company name I don't see why it would be a BIK. The company can provide a SIM/contract for both business and personal use, what it can't do is pay the employee's bills.

You're right and I stand corrected.

[SlipTheJab]

FFS Buy the phone outright and bang that through the Ltd, 700 odd squid for an iphone, then get a cheapo sim only deal and just pay for it personally (Im paying 25 notes a month for 25 gig + free Spotify, bargain), sorted.

[TheCyclingProgrammer]

FFS Buy the phone outright and bang that through the Ltd, 700 odd squid for an iphone, then get a cheapo sim only deal and just pay for it personally (Im paying 25 notes a month for 25 gig + free Spotify, bargain), sorted.

I agree, the biggest saving to be had is buying the phone through the Ltd, saving corporation tax and once we're all off the FRS, the VAT too.

I've only ever claimed business calls, I just use and pay for a personal SIM.