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Keeping petrol receipts - even though you claim mileage allowance

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    #21
    Originally posted by Sockpuppet View Post
    I don't keep receipts and I do a tulip load of miles. I fill up possibly twice a week at the moment. Its only July and I've already blown through the 10k limit of 45p a mile!

    I worked out how much it was worth (not a lot) and how much effort it would take (a fair bit) so didn't claim anything.
    I'm doing about £500 worth a month and all I do is write down on my expense spreadsheet
    - dates from and to
    - total days worked in period
    - total amount claimed

    So I am extracting approx £6000 for the year, saving approx £1200 in corp tax, not paying my fuel myself out of money I have paid PAYE, NI on, and not eating into my divvies.

    It's not much hassle.

    On the main question, I'm FRS, and I don't keep receipts either on instruction from my accountant. Even I were keeping them, it wouldn't be much more than chucking them in an evelope.

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      #22
      Originally posted by jmo21 View Post
      I'm doing about £500 worth a month and all I do is write down on my expense spreadsheet
      - dates from and to
      - total days worked in period
      - total amount claimed

      So I am extracting approx £6000 for the year, saving approx £1200 in corp tax, not paying my fuel myself out of money I have paid PAYE, NI on, and not eating into my divvies.

      It's not much hassle.

      On the main question, I'm FRS, and I don't keep receipts either on instruction from my accountant. Even I were keeping them, it wouldn't be much more than chucking them in an evelope.

      Don't get me wrong I do keep details of from/to on specific days with notes of what it was for (i.e. interview, meeting client etc) and the mileage for that day. I just can't keep hold of receipts. I lose them too easily/forget to ask for them.

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