Quick question, do you pay your accountancy charges from your business account or from your personal account and claim it back?
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Accountancy charges?
Collapse
X
-
-
-
They're business charges, not personal, so should be paid by the business; not you as an individual. Not that it makes much more difference other than creating more work for yourself.Comment
-
-
I wonder if the OP is angling paying it off on some kind of reward card so getting that benefit and then expensing it back.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
-
Comment
-
Generally business account, but private account and claiming back makes little odds.
Normally there are no issues around deductibility either way.
The "who is the contract with" issue is interesting. We write ours jointly with company and directors as its directors responsibility to cause accounts etc to happen.Comment
-
You *can* pay for business expenses personally and claim them back, normally without any issues or extra paperwork (e.g. it doesn't normally have to go on the P11D) if its clearly a business expense and invoiced to the company. I've had to do this once or twice before (on one occasion was some computer hardware and the company card kept on getting rejected by the vendor so I stuck it on my personal card and claimed it back).
That said, I don't think its a good habit to get into. Obviously there will be certain expenses you incur personally that you need to claim back through the company (e.g. business travel) but generally, it's just good practice to keep your business and personal finances separate wherever possible.Last edited by TheCyclingProgrammer; 19 September 2013, 16:41.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment