Charging your comapny

Debt_Free_Chick

p.s. Your manager is likely to be in exactly the same position! So he is "your friend" in this matter not your enemy.

Whether he can facilitate an agreeable solution is debatable, though.

CannyJock

osullivane wrote: »

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

You can't charge them for it, won't work like that. But you can still profit from it.

You've got a few options. You can ask your employer to provide you with a company credit card, or to provide you with a cash advance to cover any business expenses incurred in the normal course of your duties.

I've worked with companies who do both and I've offered my own employees both in the past. The cash advance basically means that you owe the company money, you spend on your credit card, claim the expenses and you're reimbursed as normal which basically tops up the advance.

There's no tax due on cash advances like this, whoever told you that is wrong. It's a temporary advance wholly and exclusively for making necessary business purchases.

You should also look at a cashback or a 0% purchase card. Cashback card you need to repay in full, 0% purchase card you only pay the minimum during the 0% period. When I ran the numbers, the 0% purchase card came out better for expenses - the idea here is that you use your 0% purchase card for these expenses, claim them from the company as normal, they repay you fairly promptly 100% of your expenses. You put the money in a high interest bank account and only make the minimum repayments on the card. At the end of the 0% period, you clear it in full to avoid any interest charge from the money you've been putting aside and you keep the interest on it.

I've done this where I've had expenses regularly over £ 1000 a month.

Maybe obvious, but regular expense claims rather than keeping them to the last week of the month and ask that your expenses are paid separate from your salary - I've saw companies paying expenses "at the end of the month" along with salary to "keep it simple" when in reality it just gives them a few extra credit days - get your manager to sign them off and then immediate/next day payment.