Hi All,
I've recently taken over the books for a Ltd company where all the charges for a mobile phone which is in one of the director's sole name (the invoice is in his name) are being entered into the books as a business expense. I checked with the directors (husband & wife) and they confirmed by e-mail that the phone is used soley for business purposes. Firstly is this ok given that the invoice is not in the company's name? As a further development to this the director who has the phone in his name has now resigned his directorship but the other director (his wife) has confirmed that the phone will still be used by her for solely business purposes, however the invoice is still in her husband's name. Going forward would the phone need to be registered in the company's name for all the charges relating to it to be included as a business expense or alternatively would it be ok for the phone to be transferred into the wifes sole name or indeed remain in the husband's name to do this?
Any help or advice would be much appreciated.
Kind Regards
Richard
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