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NEW: Get 30,000 bonus points – worth 30,000 Avios or £300 – with Capital on Tap

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Capital on Tap has brought back its EXCLUSIVE and generous HfP offer to earn up to 30,000 bonus points with its business credit card.

The offer is running until midnight on 12th May 2024. You need to be a director or shareholder of a limited company or LLP to take part.

You can earn up to 30,000 bonus points when you take out a Capital on Tap Business Rewards credit card. These points convert at 1:1 into Avios or into 1p of cash. This means you can receive up to 30,000 Avios or £300 as a sign-up bonus!   You can apply here.

Capital on Tap 30,000 points

How does the sign-up bonus work?

You can earn your 30,000 bonus Capital on Tap points in two stages.

Firstly, when you get the Capital on Tap Business Rewards Credit Card before 12th May, you will get a 10,000 points bonus when you make your first transaction. You’d simply need to buy something as small as a coffee and 10,000 bonus points will be dropped into your account. (You’ll also earn points for buying the coffee as normal!)

To get a further 20,000 points bonus, new cardholders are required to spend £20,000 on their card within the first three months.

For some SME owners, spending £20,000 in three months will not be a problem. However, if you can’t meet this target, you will still get 10,000 bonus points just for making one transaction with your new card.

Remember that you need to apply for the £99 per year Business Rewards card to get this offer, and that 10,000 points converts into £100 cashback or 10,000 Avios.

How to apply for the Capital on Tap Business Rewards Visa

This is a HfP exclusive offer, so you MUST apply via this link.

Applications made through the standard Capital on Tap home page will not receive the extra bonus.

Do you qualify for this offer?

Readers who are directors or shareholders of a business which is incorporated in the UK as a limited company or LLP are eligible to apply for the Capital on Tap Business Rewards card.

You may qualify for a Capital on Tap Business Credit Card if;

  • the business is active on Companies House.
  • the business has a minimum monthly turnover of £2,000.
  • there are no unsatisfied CCJs against you or your business in the last 12 months.

At present, sole traders and regular partnerships cannot apply.

This offer is only available to new Capital on Tap customers.

Capital On Tap Business Rewards credit card bonus

What are the benefits of the Capital on Tap Business Rewards Visa card?

Alongside the sign-up bonus of 10,000 or 30,000 points, here are some additional reasons that HfP readers may like the Capital on Tap Business Rewards credit card:

  • It’s a Visa card. Capital on Tap credit cards are Visa cards, making them the ONLY Visa or Mastercard cards that allow a business to earn Avios (and, of course, are much more widely accepted than American Express for B2B transactions).
  • You earn 1 Capital on Tap point per £1 you spend on the card.  There are no restrictions on how many points you can earn or redeem – it’s just based on how much you spend on your card.
  • Redemption options. Capital on Tap points can be redeemed for 1 Avios per point, 1p cashback, or gift cards at household retailers like Amazon and John Lewis. The points are instantly redeemable, which means that as soon as your card transaction clears you’ll see your points and can spend them.
  • You can preload your account so you can spend beyond your credit limit and earn points on every purchase – no need to spend time repaying every time you get close to the limit.
  • You won’t pay FX fees abroad or if you pay for anything in the UK in another currency. This is the only Avios-earning credit card, personal or business, which does not charge foreign exchange fees when used abroad.
  • You get quick points transfers to Avios.  Capital on Tap has virtually instantaneous transfers of points into Avios.  They reach your British Airways Executive Club account as soon as you’ve completed a transfer from your Capital on Tap account. There is no risk of missing out on that reward seat.
  • You can cash in your points. If you decide you don’t want any more Avios at any time, Capital on Tap will let you cash-in your non-transferred points for 1p per point of real money. If you choose to redeem your points for cash instead of Avios, you should take tax advice on how the cash should be treated – HMRC does not tax points or miles.
Capital on Tap 30,000 points

On top of these benefits, as a cardholder you would also get:

  • UNLIMITED cards for your company, for free – now with assignable Administrator, Accounts or basic Cardholder roles
  • A credit facility of up to £250,000
  • Up to 42 days to pay before interest is incurred on card purchases when you repay in full
  • No UK ATM fees
  • Accounting integrations with Sage, QuickBooks, Xero and more
  • 24/7 customer service

What are the fees and interest rate?

The annual fee for the Capital on Tap Business Rewards credit card is £99 and is tax deductible. 

With this offer, you can redeem the 10,000 Capital on Tap points earned from your first transaction for £100 cashback or 10,000 Avios, so you have already cancelled out the annual fee.

Your interest rate is based on your business profile and can be as low as 15.5% APR (variable). 

Conclusion

Our Capital on Tap offers have always been appealing to the many HfP readers with their own business. The 30,000 points bonus when you spend £20,000 in the first three months offers real value.

If you can’t spend £20,000 in three months, don’t worry.  Everyone who successfully applies will receive 10,000 points (worth £100 or 10,000 Avios) after their first purchase. Your £99 fee is instantly covered and, because the fee is a tax-deductible expense, the net cost to you will be lower.

Some business owners reading this may already have a British Airways Accelerating Business American Express, American Express Business Platinum or American Express Business Gold. You should still consider Capital on Tap in addition to your Amex as it is ideal for use outside the UK (due to 0% FX fees) and at places where American Express is not accepted.

You have until 12th May to apply, but don’t forget – you MUST use this link to apply.

Comments (27)

  • Daniel says:

    I’ve wrestled with the tax treatment of the cashback… what if you take the “cashback” in the form of an e-voucher for Harvey Nichols? It’s not going to hit your bank account so how would you account for it?

    • Ryan says:

      if you really wanted to account for it, stick it to the Director’s Loan Account
      Dr DLA
      Cr Income/ Expense

      But that would be a double taxation and only you can answer if you want to do that

  • memesweeper says:

    The T&Cs on cashback are clear:

    A cashback business credit card gives your business money back on purchases.

    Not you, your business. I’ve accounted for this in the past as “negative bank charges” and the accountant was happy.

    If the business owner pockets the cash then they would be wise to take advice on how to account for that correctly.

    • Andy says:

      “Not you, your business. I’ve accounted for this in the past as “negative bank charges” and the accountant was happy.”

      Isn’t a negative bank charge just the equivalent of interest?

  • Daniel says:

    According to CoT’s blog giftcards are a non-taxable benefit…

    https://www.capitalontap.com/en/blog/posts/are-credit-card-rewards-taxable-for-a-business/

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