Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: tunnie on 31 August 2009, 16:51:12
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I need to keep better track of my finances with my new job, as i can claim for basically everything, lunch, dinner, fuel.... i want to be able to keep my business claims separate from my personal spending.
I only have 1 credit card at the moment, which is always, without fail, paid off in full every month. Its a Marriott Reward Card (backed by Halifax), and i like its scheme as its £1 a point, and that translates to free nights at the hotel.
I'll continue to the Marriott card for all business expenses as that will be quite high each month, but i need a new separate card for my spending. So any of my own fuel, food, xbox games ::) trips out and so on...
But what to get? I can't have another Marriott one as they said i am only allowed 1 :'(
My credit rating is excellent, in fact better than excellent (according to the Halifax Mortgage Advisor) Also i am not interested in any of this balance transfer stuff or interest free credit as everything is paid off at the end of the month, i need something which has a decent points / rewards scheme?
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I need to keep better track of my finances with my new job, as i can claim for basically everything, lunch, dinner, fuel.... i want to be able to keep my business claims separate from my personal spending.
Doubt it... :(
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I need to keep better track of my finances with my new job, as i can claim for basically everything, lunch, dinner, fuel.... i want to be able to keep my business claims separate from my personal spending.
Doubt it... :(
I have the expenses documentation here, and yes i can ;)
I am contracting for a temporary position.
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Why not look at one of the supermarket ones that give you money off fuel if you use it there...
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Why not look at one of the supermarket ones that give you money off fuel if you use it there...
think tesco's is offering the best 1 at the mo :y
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Why not look at one of the supermarket ones that give you money off fuel if you use it there...
think tesco's is offering the best 1 at the mo :y
Not much point in that as i claim for fuel anyway, and i find Tesco fuel gives poor mpg compared to BP.
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Lloyds/Amex Duo Plus card gives you Air Miles. Surprising how soon you can pick up enough to get a flight. :y
http://www.lloydstsb.com/credit_cards/airmiles_duo.asp
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Are you going to put the card in your name or the name of a company?
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Are you going to put the card in your name or the name of a company?
Mine.... i am basically self employed but going through an umbrella
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Lloyds/Amex Duo Plus card gives you Air Miles. Surprising how soon you can pick up enough to get a flight. :y
http://www.lloydstsb.com/credit_cards/airmiles_duo.asp
Yes did look at amex, father tunnie used to have one. Trouble is not a lot of places take it.
Mate has had problems with mastercard too, so has to be Visa :(
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Try looking at Moneysupermarket.com.... a good place to compare offers at the minute...
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Are you going to put the card in your name or the name of a company?
Mine.... i am basically self employed but going through an umbrella
I've got a feeling (not sure) that credit card companies treat cards used for business purposes differently than personal cards. Worth finding out I think.
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Are you going to put the card in your name or the name of a company?
Mine.... i am basically self employed but going through an umbrella
I've got a feeling (not sure) that credit card companies treat cards used for business purposes differently than personal cards. Worth finding out I think.
Been using my current one as a mixture for the past 2 years, as i currently have to pay all my own. (train fare, fuel) so on, that plus any holiday trips or personal spending all goes on the same card.
when i rang up to ask for a second, Halifax said they don't care whats you use the card for, but credit checks are against you, not the business (which is fine by me) father tunnie uses his card for expenses only.
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http://www.compareandsave.com/dealfinder/credit-cards/top-10-cards.cfm?gclid=COKc1v-kzpwCFUoB4wodpHc-Jw
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Lloyds/Amex Duo Plus card gives you Air Miles. Surprising how soon you can pick up enough to get a flight. :y
http://www.lloydstsb.com/credit_cards/airmiles_duo.asp
Yes did look at amex, father tunnie used to have one. Trouble is not a lot of places take it.
Mate has had problems with mastercard too, so has to be Visa :(
Had Amex and Diners for years - canned both as they were too expensive to run [smiley=thumbdown.gif]
Have a look here;
http://www.which.co.uk/reviews-ns/credit-cards/index.jsp
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Lloyds/Amex Duo Plus card gives you Air Miles. Surprising how soon you can pick up enough to get a flight. :y
http://www.lloydstsb.com/credit_cards/airmiles_duo.asp
Yes did look at amex, father tunnie used to have one. Trouble is not a lot of places take it.
Mate has had problems with mastercard too, so has to be Visa :(
That's why they give you two cards. I fill up at Shell, with their Drivers Club and pay using the Duo Card and get double Air Miles...same at Tescos. :y
Never had a problem with Mastercard acceptance. :y
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I need to keep better track of my finances with my new job, as i can claim for basically everything, lunch, dinner, fuel.... i want to be able to keep my business claims separate from my personal spending.
Doubt it... :(
I have the expenses documentation here, and yes i can ;)
I am contracting for a temporary position.
I'm inclined to believe that those items are only allowable for temporary assignment away from your regular place of employment.
But I could well be completely wrong - if so, I've missed out on 20 years of meal claims. You can usually claim your fuel as a business expense, and recover the VAT, together with a load of other stuff (accountancy fees, for example) and you can get (limited,reasonable) hotel expenses if you stay away from home, but I think you'll be very lucky if the tax office allows your food.
And "temporary" tends to be a very poorly defined term - less than 6 months is temporary, more than 2 years isn't. Anything in between is arguable.
There are loads of variations in the interpretation of the rules/guidelines - I really would advise you to talk to an accountant.
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I need to keep better track of my finances with my new job, as i can claim for basically everything, lunch, dinner, fuel.... i want to be able to keep my business claims separate from my personal spending.
Doubt it... :(
I have the expenses documentation here, and yes i can ;)
I am contracting for a temporary position.
I'm inclined to believe that those items are only allowable for temporary assignment away from your regular place of employment.
But I could well be completely wrong - if so, I've missed out on 20 years of meal claims. You can usually claim your fuel as a business expense, and recover the VAT, together with a load of other stuff (accountancy fees, for example) and you can get (limited,reasonable) hotel expenses if you stay away from home, but I think you'll be very lucky if the tax office allows your food.
And "temporary" tends to be a very poorly defined term - less than 6 months is temporary, more than 2 years isn't. Anything in between is arguable.
There are loads of variations in the interpretation of the rules/guidelines - I really would advise you to talk to an accountant.
I went the umbrella route rather than self employed, much easier to setup.
I am 'employed' by the umbrella agency, and get paid PAYE, and according to their expenses documentation, i can claim for fuel to any 'temporary' work place where the contract is less than 24 months long.
Mine is 3 month rolling, so i double checked with them twice i could claim for fuel.
Also says if the place of work (temp or perm) is more than 2.5 miles from home i can claim £9.50 for lunch, and if i leave the temp/perm work place after 6:30pm (which i will be) i can claim £18.50 for dinner.
So if i get things right, i won't have to pay to get to work, or eat there, or eat at home ;D
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Hi,
I used a Shell card for business expenses only. You get cashback as a small % on the total monthly spend and there is a reasonable introductory offer period which gives a double cash back.
The other good one to go for is Holiday Inn's own credit card, if you stay over a lot then you get double points.
Regards
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I need to keep better track of my finances with my new job, as i can claim for basically everything, lunch, dinner, fuel.... i want to be able to keep my business claims separate from my personal spending.
Doubt it... :(
I have the expenses documentation here, and yes i can ;)
I am contracting for a temporary position.
I'm inclined to believe that those items are only allowable for temporary assignment away from your regular place of employment.
But I could well be completely wrong - if so, I've missed out on 20 years of meal claims. You can usually claim your fuel as a business expense, and recover the VAT, together with a load of other stuff (accountancy fees, for example) and you can get (limited,reasonable) hotel expenses if you stay away from home, but I think you'll be very lucky if the tax office allows your food.
And "temporary" tends to be a very poorly defined term - less than 6 months is temporary, more than 2 years isn't. Anything in between is arguable.
There are loads of variations in the interpretation of the rules/guidelines - I really would advise you to talk to an accountant.
I went the umbrella route rather than self employed, much easier to setup.
I am 'employed' by the umbrella agency, and get paid PAYE, and according to their expenses documentation, i can claim for fuel to any 'temporary' work place where the contract is less than 24 months long.
Mine is 3 month rolling, so i double checked with them twice i could claim for fuel.
Also says if the place of work (temp or perm) is more than 2.5 miles from home i can claim £9.50 for lunch, and if i leave the temp/perm work place after 6:30pm (which i will be) i can claim £18.50 for dinner.
So if i get things right, i won't have to pay to get to work, or eat there, or eat at home ;D
My apologies - you did say you were using an umbrella company somewhere else - I forgot. That means that the expenses policy has nothing to do with the local tax office and my earlier comments don't apply. All the expenses you get paid will have to be declared on the P11D form at the end of the tax year, but I haven't got a clue about how this works and how you actually pay the tax on it, so I will now shut up completely and not contribute a further word to this discussion.
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no worries!
Its most likely that this contract will only run 6 months, then go to perm, which they have put on the table for me.
So umbrella was the best route for me, and also get things moving quickly with the new role.
This way the agency can worry about all the tax rules, and i can go on there nice simple documentation :D
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Why not see what your bank card is offering?
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Or go via cashbackkings (use the link in my sig ;)) and see what cashback you get for signing up a credit card ::)
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If you.re not worried about APR or cashbacks or all that cr*p, then go for the one with the longest interest free period between purchase and payment. Cant really see how it will make much difference if you pay in full each month.
I suppose the credit limit could be another factor.
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Marks & Spencers Money there card suits me fine & wifey too get points for prizes etc etc ............
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Further to my last posting, Citi Shell have just written to me and advised that WEF 1st October they will be reducing the Shell cash back from 3% of the monthly spend down to 1% of the monthly spend.
Not quite as much of an incentive now is it?
:-/
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just took out a play.com credit card.
Get 1,500 points for first purchases, then its £1 a point, 500 points = £5 off voucher, will do me for now, it won't get used that much as i am a tight git ;D