Hi can anyone confirm if HMRC will review all personal bank accounts under your own name and any personal joint accounts as part of a HMRC investigation for expense claims or do they simply review receipts?
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
HMRC investigation question
Collapse
X
-
-
Originally posted by loneb View PostHi can anyone confirm if HMRC will review all personal bank accounts under your own name and any personal joint accounts as part of a HMRC investigation for expense claims or do they simply review receipts? -
Originally posted by Not Losing Any Sleep View PostThe are entitled to ask for personal bank acccounts and most probably will.
HMRC can ask for bank statements if they are relevant to their enquiries. Such request can be refused if the information is available from other sources.
Only in the more serious investigations (COP9) would HMRC send a third party notice to the bank asking for the data. Even then most banks resist on the grounds of client confidentiality.
I'm not saying that HMRC won't eventually get statements but it's nowhere near as common as you think, can be resisted on many levels by all parties and is normally reserved for serious cases.Best Forum Adviser & Forum Personality of the Year 2018.
(No, me neither).Comment
-
Thanks for the details - my problem is that i purchased a laptop for £700 for work about 1 year ago however it was purchased on the ex's credit card and i then paid expenses to myself and then forwarded it to her.
I have the receipt but i no longer have her details as we haven't kept in touch for a long time.
I am not under investigation but worried if HMRC will fine me etc for not being able to produce her statements for the purchase.Comment
-
Originally posted by loneb View PostThanks for the details - my problem is that i purchased a laptop for £700 for work about 1 year ago however it was purchased on the ex's credit card and i then paid expenses to myself and then forwarded it to her.
I have the receipt but i no longer have her details as we haven't kept in touch for a long time.
I am not under investigation but worried if HMRC will fine me etc for not being able to produce her statements for the purchase.
In relation to the question though - As long as you have the receipt you are fine. HMRC are not interested in seeing your bank statements in relation to thisComment
-
sorry didn't notice i posted this in incorrect thread - please feel free to move it.
thank you all for confirmingComment
-
Moved."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
-
Originally posted by loneb View PostThanks for the details - my problem is that i purchased a laptop for £700 for work about 1 year ago however it was purchased on the ex's credit card and i then paid expenses to myself and then forwarded it to her.
I have the receipt but i no longer have her details as we haven't kept in touch for a long time.
I am not under investigation but worried if HMRC will fine me etc for not being able to produce her statements for the purchase.
Buying a Laptop as an IT contractor is not really suspicious and perfectly valid looking receipt is all they'll normally need. If they really want to check, then they can check with the retailer.Last edited by BlasterBates; 21 September 2015, 13:15.I'm alright JackComment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment