Hello, I am a director in a limited company and need to upgrade my phone to be more fit for purpose for business use. The phone will be business use with reasonable private usage.
I would like to purchase a mobile phone via the limited company as I understand HMRC allow an exemption for each director to have a mobile phone.
I will pay for the standalone handset with my personal funds as the business does not have any cash yet.
My current personal sim-only contract provider will allow me to change the name of the contract to the ltd company without having a business contract - I will pay for the contract from personal funds for the same reason as above until I can fund it through the company.
Will HMRC have an issue with this from a BIK perspective?
Is it correct that it would be an allowable expense for CT, and if the ltd co VAT registered I can reclaim the input VAT?