Expenses advice 16 July 2022 at 8:31PM in Employment, jobseeking & training 18 replies 671 views

kandfs_mam

Hi
I claim mileage and out of pocket expenses each month in arrears - we have to put in any expense claim for the previous month by 5th of following month and get expenses paid to us on 29th. So expenses I have accrued 1st - 30 June aren’t paid until 29 July. 

I keep a separate credit card that I only use for work expenses but the cut off dates mean I have to pay my credit card bill by 19th of the month. 

In essence any expenses I accrue from 1st to 17th of the month need paid off my credit card before I get the money back from work. 

It wasn’t an issue when it was c £100 but now we are having to pay out to host client meetings as well and last month my expenses were £1100 but due to the cut off dates I have had to find £800 of my own money to pay the Cc bill or accrue interest (which work will not pay).

does this sound right or are my work taking advantage? I am just about to buy a new house and don’t have the cash flow to facilitate this going forward  

elsien

Have you asked them about providing you with a work credit card? 

kandfs_mam

They used to provide work credit cards until 5 years ago when an audit uncovered that the system was being abused by senior managers. The business then cancelled all work credit cards and won’t entertain reintroducing them. 

elsien

They need to be arranging to pay another way then. I’d not be happy paying that much out on a personal card. 

The other option is to see if you change the payment dates in your card? 

JReacher1

Sounds like there is nothing your employer is prepared to do. So seems like you have the following options:

1) get a new job (not the best idea of you are in the process of buying a new house). 
2) change the due date on your credit card (seems the easiest solution). 

3) just pay the minimum payment for the 19th and the remainder on the 29th (will mean you pay a small amount of interest). 

Unrelated to your question but if you’re buying a new house and don’t have enough of a financial buffer to be able to handle say £1k for the ten days between one bill and receiving the money then you probably should look at trying to build one up. 

kandfs_mam

JReacher1 said:

Unrelated to your question but if you’re buying a new house and don’t have enough of a financial buffer to be able to handle say £1k for the ten days between one bill and receiving the money then you probably should look at trying to build one up. 

Thank you both for your replies. 

Re buffer - our current house (mortgage free) is in the process of being sold but not completed yet so the next couple of months are tight until completion and I’d rather not have to ear mark our spare cash to facilitate work expenses TBH 

Marcon

kandfs_mam said:

They used to provide work credit cards until 5 years ago when an audit uncovered that the system was being abused by senior managers. The business then cancelled all work credit cards and won’t entertain reintroducing them. 

What they might entertain if you explain (with actual examples to drive home the point) that the current system is causing cashflow difficulties, and ask if you could have an advance or a float to help ease the issue.

74jax

If you simply do not have the money, what do they suggest you do?  

Have you ever said 'I have a meeting next week, my credit card is unavailable, how do you wish me to proceed'? 

Your partner or even simple household expenditure 'could' mean you've already used what you are comfortable with on your card, I'm wondering what suggestions they have come up with, other than cancel the meeting? . 

General_Grant

Have you read the terms and conditions of the credit card issuer?  The last one I obtained included that it was for personal use only not business use.    Your employer may be asking you to break the terms of your contract with the card issuer.

liz_bartun

Marcon said:

kandfs_mam said:

They used to provide work credit cards until 5 years ago when an audit uncovered that the system was being abused by senior managers. The business then cancelled all work credit cards and won’t entertain reintroducing them. 

What they might entertain if you explain (with actual examples to drive home the point) that the current system is causing cashflow difficulties, and ask if you could have an advance or a float to help ease the issue.

This would be subject to tax and ni though.

JCS1

liz_bartun said:

Marcon said:

kandfs_mam said:

They used to provide work credit cards until 5 years ago when an audit uncovered that the system was being abused by senior managers. The business then cancelled all work credit cards and won’t entertain reintroducing them. 

What they might entertain if you explain (with actual examples to drive home the point) that the current system is causing cashflow difficulties, and ask if you could have an advance or a float to help ease the issue.

This would be subject to tax and ni though.

Only if treated as a salary advance, not if an expenses advance