Charging your comapny

osullivane

Hi Guys, Not sure if this is the right place,


But
I am trying to find out if we can leaggaly charge our companys for the use of using our own credit cards or is it another tax that we will be charged for.

This is becoming a bigger problem for a lot of people..and I personly have to wait 60days before being payed back for purches.

Any help on this would be gratefull.

Again sorry if this is in the wrong thred, and I cant find it anywhere on the web site

osullivane

missile

I guess you are talking about reclaim of expenses?

Many companies take as long as possible to pay their bills. I would agree that it is unreasonable to do this to employees but I don't think their is any law to support demanding prompt payment.

It is pretty much depends on the company and their attitude.

One company I worked for gave us a cash advance to use for out of pocket expenses.

osullivane

Hi thanks for you advise

However, I am not that fussed about waiting for the money at the mo, with 0% etc etc.

What I am trying to find out is, can we charge them for the use of our credit card, or is this illegal.

So for instance at the end of the month your company owes you

£2000 which is on your credit card.
We claim £2000 back, but have to wait.

can we not add LEGALLY add 10% for that privallage?
Sorry if I am not clear.

mymatebob

Never had anyone successfully do this where I worked. If people tried that they were offered a company credit card (for which they were liable) or cash advances (although these were supposed to be phased out it never happened)

missile

I very much doubt any employer will accept your 10% "service charge". You might have more chance, if you get together with other employees and make a joint request. Alternatively, you could refuse to use your own money for company expenses.

However I would not advise you to do either, as you may be labelled as a trouble maker.

osullivane

Thanks for your advise guys,

Yes I agree that not using my card would construde to being a trouble maker.

We have asked for company credit cards, but this is now taxable?

A cash advance is also seen as a payment in kind - taxable

I have said that we would like to charge them 3% of the total amount owed, not a great deal..but they came back with that this is agaist the law?
But could now point this out to me at the time.

I am trying to find if there is a tax loophole or a law that states that we can or cant do this.

Effectivly, my company and many others are asking us to front there own finacial needs...not a bad thing, but I belive that we should be rewarded for doing so.

So guys have you herd of such a tax loophole or law to state that we cant charge a percentage of our costs?

Or do you have a better ideas for the above

mymatebob

osullivane wrote: »

Thanks for your advise guys,

Yes I agree that not using my card would construde to being a trouble maker.

We have asked for company credit cards, but this is now taxable?

A cash advance is also seen as a payment in kind - taxable

I have said that we would like to charge them 3% of the total amount owed, not a great deal..but they came back with that this is agaist the law?
But could now point this out to me at the time.

I am trying to find if there is a tax loophole or a law that states that we can or cant do this.

Effectivly, my company and many others are asking us to front there own finacial needs...not a bad thing, but I belive that we should be rewarded for doing so.

So guys have you herd of such a tax loophole or law to state that we cant charge a percentage of our costs?

Or do you have a better ideas for the above

Credit card and cash advances are not taxable.
Company I worked for tried to stop advances so staff said thats fine we will not incur any expenses at all, you pay for our travel, hotels meals, etc etc Which was a stalemate until the company relented and kept the advances. Most people took the company credit card option.

epsilondraconis

Provided you have sufficient funds available and can pay off the balance at the end of each month, you could use a cashback credit card. Although the Capital One 4% cashback offer is no longer available, I was able to make over £100 from work-related cash-back purchases.

Freddie_Snowbits

I am sorry but I would not subsidise the company I work for. If they did not promptly pay, I would not do it again

jennifernil

OH has a card that he used for work related costs (air tickets etc). If the money was not repaid in time he did not pay off the card and charged the interest to his employer. They accepted that OK.

Debt_Free_Chick

The problem with company credit cards is that they cost the company money! They are usually "charge cards" with the full balance payable on the statement date. And many employees haven't submitted their expenses by then, so the company can't reconcile the amount paid to the CC company with the amount of expenses claimed by employees.

Having said this, I agree that it is not acceptable for the little man to subsidise the big man. There is no magic solution, though ..... you really must have a reasonable conversation with your employer about this. Particularly if your expenses run in several hundreds!!