Personal Versus Business Mobile Phone

There are some basic differences between a personal phone and a business phone. And some laws are to be followed in order to own one of them.

Tax: When the law changes, it means that the company can provide each worker with a mobile phone and a SIM card, but it is without any kind of profit. But business mobile contracts must be in the name of the company.

But it can also happen that the mobile phone is in your name, but it's paid for by the company's account. In this scenario, it is considered as the benefit in kind. This thing should be reported on the P11D, and there will be class 1 NIC to pay via the payroll on this benefit.

It can also happen that the phone is in your name, and you paid it for you but ask the company to pay it back afterwards. In this case, you are paid via payroll. You have to deduct and pay PAYE and Class NIC on the value of the monthly contract for any personal over and monthly tariff calls. It is worth checking out with the accountant.


Business Tariffs: The profits from the cost-effective business tariffs and plans by grouping all the phones by the company and seeking the advantage of ways like free calls between users, unlimited minute and text bundles, and shared data bundles.

Next-Day Exchange: Due to anything, if the phone stops working, or you lose it; thus, you need a new phone. A replacement for mobile phones for business may take 20 working days when it is sent to the manufacturer. A dedicated accountant and with a partner taking care of the business, a new replacement can be there for you on the same working day.

One Bill: there is only one bill for every worker. Review the phone to check how workers are using the phone. The accountant will do the monthly billing reviews, value the checks for you, and give suggestions on saving money by taking some measures. With no guidance, knowledge, and experience, many people don't know how to make these changes.

Comments

Popular posts from this blog

Level Up Your Business With Business Mobile Phones

Mobile Business Ideas for The First-Time Entrepreneurs

How is a Mobile Business Contract Good Than a Personal Contract?