Business Air Miles

thearbitrator

I do the bookkeeping and accounts for a family business, which I am glad to report is doing well. I am looking at the feasibility of getting an Amex Platinum Card to gain the maximum rewards that could be shared by the family members. What I would like to do, is pay all our suppliers by Amex, and pay the credit bill off in full each month thereby earning as many points as possible...this could be £10-£15k a month. My questions are as follows:

1. Is this feasible?
2. Could I get the card through the company, or would I have to apply in person?
3. Can the benefits be shared amongst the family members/partners in the business?
4. Is it worth doing!!!!?

I would really appreciate any advice/feedback.

chattychappy

1. Is this feasible?
YES, to the extent your suppliers accept American Express.

2. Could I get the card through the company, or would I have to apply in person?
Generally personal cards give better rewards. Of course it makes you personally liable for the debt.

3. Can the benefits be shared amongst the family members/partners in the business?
Not directly. Depends what you are doing. Eg if you get Pizza Express vouchers, you could hand these out. But flights - in most cases the points have to go to a scheme in your name and the flights are issued in your name. There might be exceptions.

4. Is it worth doing!!!!?
Certainly. Some accountants might want to report the reimbursements as an expense. But provided the spend is legitimate business spend, then ultimately there is no problem. Some might claim that the free air tickets are some kind of taxable benefit in kind, but when I was doing it, HMRC were happy they weren't provided the company wasn't paying extra. (Things might have changed.)