Laptop / PC Server expense on Limited Company

[mgarg]

Hi,

I have been working thru limited company from last one and half year. I always buy laptop/pc/server/software stuff by paying using my personal card and then expense it in limited company and pay back to myself.

I have business combined insurance for limited company which includes office equipment insurance as well which could cover all these laptop/servers.

But all of these stuffs purchased on my name not limited company because I paid thru my personal card.

Insurance company says I cannot claim for damages on these laptop/servers as there are not registered on company name.

I do not have a debit card for business account.

Am I doing something wrong or what document should I create to show equipments on company name?

[Wanderer]

Insurance company says I cannot claim for damages on these laptop/servers as there are not registered on company name.

I think the insurance company is being unreasonable. Your company is free to buy it's equipment from anyone that it chooses, including the director. Go back to the insurance company and point out that the company has a receipt for the goods for when they brought it from you (just print something off to say that you sold the goods to the company along with the date and price paid and sign it) and show them that it appears as an asset on the company's accounts.

[kingcook]

Insurance company says I cannot claim for damages on these laptop/servers as there are not registered on company name.

You, the director, bought them for the company. Show them the receipts and bank statement showing that you paid the expense back to yourself.

[mgarg]

I think the insurance company is being unreasonable. Your company is free to buy it's equipment from anyone that it chooses, including the director. Go back to the insurance company and point out that the company has a receipt for the goods for when they brought it from you (just print something off to say that you sold the goods to the company along with the date and price paid and sign it) and show them that it appears as an asset on the company's accounts.

Thanks Wandrer, do you have any sample format to generate sale receipt in format you have mentioned?

[Wanderer]

Thanks Wandrer, do you have any sample format to generate sale receipt in format you have mentioned?

No, I don't have a template. It can be quite simple, just make one up. Make sure you include your name, your company's name, a description of the goods, a price and a date. Check out a few examples here for some ideas.

DON'T add vat to the receipt because you personally aren't VAT registered, the company can't claim back the VAT.

[mgarg]

No, I don't have a template. It can be quite simple, just make one up. Make sure you include your name, your company's name, a description of the goods, a price and a date. Check out a few examples here for some ideas.

DON'T add vat to the receipt because you personally aren't VAT registered, the company can't claim back the VAT.

Thanks for the links. I should have tried google image search myself before asking you.