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angusglover
22nd May 2007, 09:47
Now that I have moved from Umbrella to Limited, I have my own company account. Is it better to pay for things such as hotels and fuel etc (company expenses) direct from company account or from paersonal account and claim back?

So much to learn...so little motivation...

VectraMan
22nd May 2007, 10:01
I always pay for everything using my personal credit card. I think it's good to have the extra protection of a credit card and the business doesn't have one.

No doubt some people will say the opposite.

angusglover
22nd May 2007, 10:11
But if the company has a credit card, would it not be easier to use that rather than my own? I am thinking less hassle...cos I don't need any more at the mo?

lol

malvolio
22nd May 2007, 10:13
If it's a business expense, the business pays for it. Why go through all the extra P11D and expense claim paperwork for no reason?
There's your money and there's YourCo money. Never, ever confuse the two.


I think it's good to have the extra protection of a credit card and the business doesn't have one.

Rubbish. There is no extra protection if you're using it for business expenses. Get a company debit card

angusglover
22nd May 2007, 10:14
Yep...thats my point. Extra hassle. ...Thanks

Epiphone
22nd May 2007, 11:00
When I was starting up everything went on the personal card then claimed back from the business. Now there's some money on the business stuff gets paid straight from the business account. The IR are more than use to people financing a start-up themselves or claming back expenses but it makes it a bit easier to just pay from the business account.

My card builds up to Amazon vouchers which paid for everyone's Chrismas presents last year too :banana: Wonder if there's any BIK on that...

VectraMan
22nd May 2007, 11:08
So where do you stand paying for petrol on the company card and then claiming mileage expenses? Presumably you have to try to work out the difference, which seems like a lot more hassle to me.

Bluebird
22nd May 2007, 11:38
So where do you stand paying for petrol on the company card and then claiming mileage expenses? Presumably you have to try to work out the difference, which seems like a lot more hassle to me.

you don't - petrol is a personal expense unless you have a company car...