Yep! I also think 1% cashback is actually better than any point credit card available on the market in the UK, even AMEX. For me personally cash > points
@@LucaDavenport If you travel, and can get an extra 30-50% on those points, they can quickly become 2p value vs 1p cashback. I really like COT though and prefer it to Amex...
It’s of course safer to buy from well reviewed manufacturers, however review rates are normally very low on Alibaba so they’re not the most important thing. If they are a verified manufacturer over a few years old, doing good volume, with a high on time delivery rate, then I would say you should be fine 👍
@@LucaDavenport Thank you, I have one more question, why does the trade assurance icon no longer appear on Alibaba, even though I check it in the filters, I only see the verified suppliers I know that before I could see both.
You mentioned using the £700 cashback for yourself tax-free @ 2:54. Does the cashback get paid into your business bank account or personal one? If business one, how do you extract it tax-free? When I sign up, what happens to the £75 credit? Same procedure?
Hey David, so the cashback can only be paid out to the same bank account connected to make direct debits to pay off the credit card each month. So this has to be your business bank account. That's not an issue tho as you just need to inform your accountant who can then account for this properly when doing your end of year accounts. The £75 credit is added to your credit card balance instead but the same principal applies. You just need to make your accountant aware. Capital On Tap say that is normally tax free in their literature, however it does seem to be a bit of a grey area when you look into it further.
@@LucaDavenportThanks for the reply. Yes, I wasn't too sure after checking with Capital On Tap and the HMRC website. I'm using FreeAgent software, but have an accountant as well, so will check with them. I'll probably sign up anyway - a fee-free business credit card seems rare these days, and the 1% cashback and £75 are free money 🙂
Hey, so this is the same issue with all credit cards, as they are cards not bank accounts. You can only use credit cards to make payments where you can pay by card, rather than bank transfer / deposit.
👉Apply & get £100 FREE: account.capitalontap.com/apps/apply/?promocode=2REFM959U21&YT&
PROMO CODE: 2REFM959U21
Helped you out 😊
what about USA residents
I guess for expenses which need a Visa solution like paying DHL Express etc this will be perfect
Yep! I also think 1% cashback is actually better than any point credit card available on the market in the UK, even AMEX. For me personally cash > points
@@LucaDavenport If you travel, and can get an extra 30-50% on those points, they can quickly become 2p value vs 1p cashback. I really like COT though and prefer it to Amex...
Hello Luca,is okey to buy from suppliers from Alibaba without any reviews ?
It’s of course safer to buy from well reviewed manufacturers, however review rates are normally very low on Alibaba so they’re not the most important thing. If they are a verified manufacturer over a few years old, doing good volume, with a high on time delivery rate, then I would say you should be fine 👍
@@LucaDavenport Thank you, I have one more question, why does the trade assurance icon no longer appear on Alibaba, even though I check it in the filters, I only see the verified suppliers I know that before I could see both.
You mentioned using the £700 cashback for yourself tax-free @ 2:54. Does the cashback get paid into your business bank account or personal one? If business one, how do you extract it tax-free? When I sign up, what happens to the £75 credit? Same procedure?
Hey David, so the cashback can only be paid out to the same bank account connected to make direct debits to pay off the credit card each month. So this has to be your business bank account. That's not an issue tho as you just need to inform your accountant who can then account for this properly when doing your end of year accounts. The £75 credit is added to your credit card balance instead but the same principal applies. You just need to make your accountant aware. Capital On Tap say that is normally tax free in their literature, however it does seem to be a bit of a grey area when you look into it further.
@@LucaDavenportThanks for the reply. Yes, I wasn't too sure after checking with Capital On Tap and the HMRC website. I'm using FreeAgent software, but have an accountant as well, so will check with them. I'll probably sign up anyway - a fee-free business credit card seems rare these days, and the 1% cashback and £75 are free money 🙂
if you cant use this card for bank transfers (for business invoices) how do you make the most out of it ?
Hey, so this is the same issue with all credit cards, as they are cards not bank accounts. You can only use credit cards to make payments where you can pay by card, rather than bank transfer / deposit.
thank you, can you make a video on the fee changes introduced in feb 5th @@LucaDavenport
@@LucaDavenport you can pay bank transfer bills with it now