Does Capital On Tap accept new contractor PSCs?

Capital On Tap does not publish a minimum trading-period requirement, but it does require £24,000+ annual turnover (~£2,000/month). Most very new PSCs lack enough invoiced revenue to qualify — wait until the company is consistently invoicing above £2,000/month before applying.

Will using a business card help with IR35?

Indirectly. While IR35 is determined by working practices, having a clear paper trail of legitimate business expenses (paid through a business credit card) strengthens the genuine business / not-disguised-employee argument.

Can I expense client lunches?

Yes — client entertainment is a legitimate business expense, though HMRC rules say it is not corporation-tax deductible. The card just makes the recordkeeping clean.

Industry guide · May 2026

Best Business Credit Card for UK Contractors 2026

Contractors operating through a UK Limited Company need a business card that separates company spend cleanly from personal expenses for accountancy and IR35 evidence. Capital On Tap is the most popular choice in the UK contractor community for exactly this reason.

Why Capital On Tap fits contractors

Clean separation of business spend for IR35 evidence and accountant's records
1% cashback on equipment, software and travel reduces effective costs
Fast 2-minute application without a personal guarantee for limited companies
Open Banking integration syncs with FreeAgent, Xero and QuickBooks

Top spend categories for contractors

› SaaS subscriptions (GitHub, Adobe, Notion, Slack)
› Hardware & equipment
› Co-working & office space
› Travel to client sites
› Accountancy & professional fees

Example spend & cashback

Spend category	Monthly spend	Monthly cashback
SaaS & software	£400	£4/mo
Travel & hotels	£600	£6/mo
Equipment & hardware (annualised)	£300	£3/mo
Co-working / office	£250	£2.50/mo
Total	£1,550/mo	~£186/year

Indicative figures based on typical contractors spend patterns. Plus a £75 welcome bonus on first transaction with code 2REFY893A52.

FAQs for contractors

Does Capital On Tap accept new contractor PSCs?: Capital On Tap does not publish a minimum trading-period requirement, but it does require £24,000+ annual turnover (~£2,000/month). Most very new PSCs lack enough invoiced revenue to qualify — wait until the company is consistently invoicing above £2,000/month before applying.
Will using a business card help with IR35?: Indirectly. While IR35 is determined by working practices, having a clear paper trail of legitimate business expenses (paid through a business credit card) strengthens the genuine business / not-disguised-employee argument.
Can I expense client lunches?: Yes — client entertainment is a legitimate business expense, though HMRC rules say it is not corporation-tax deductible. The card just makes the recordkeeping clean.