Energy Price Cap announcement: Watch Martin Lewis explain what it means for your electricity and gas bills this winter
in Employment, jobseeking & training
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If it was going to be treated as exempt from tax/ni it would need much more monitoring and controls than the credit card situation, that the company couldn't control.
This is a ridiculous situation and they're copping out on their responsibilities. It does make me wonder what else isn't being reported properly.
"Advance payments made to an employee by an employer to cover any necessary expenses or incidental overnight expenses the employee will incur in performing his or her duties are strictly loans.
In practice they are not treated as beneficial loans giving rise to tax charges where the following conditions are met:
When I had this kind of arrangement I used to love it as paying for flights and hotels and everything else was a nice little earner on points and cashback on my various cards which I lost when I got switched to a company card but I also see why it can be an issue for other people.
If its just a case of changing the payment date on your card bills that might be an easy solution, but if not then I think you should let your boss know that for the time being you won't be able to fund client meetings on your personal card and ask them what they want you to do instead.
Worked very well for me and not taxable as it's an advance on expenses.
Even if there was a problem with misuse of credit cards in the past, there is no reason they couldn't geta couple and have better systems in place to manage them, or limit who has them. Orr they could use prepaisd cards for the type of thing you are doing.
An alternative would be for you to flag up that the delay caues problem and ask them to commit to processing nad reimburing expneses more quickly - presumably if they reimbursed them twice a month instead of onceit would address the issue.