Re: Why Bother ?
receipts are kept not only for VAT purposes, but also for reimbursable expenses purposes, i.e. if you stay overnight in a hotel, you can deduct the expense from your income that is taxable, but you need to keep the receipt for this, as the IR can investigate later
So this has nothing to do with VAT, just expenses.
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Reply to: Storage of receipts
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Previously on "Storage of receipts"
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Guest repliedRe: Why Bother ?
"Why not go Flat rate and forget the receipts ? "
You will still require them if the Inland Revenue investigate the company.:\
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Guest repliedRe: Why Bother ?
There is a flat rate for VAT but is there one as far as HMCE is concerned?
bolox I meant as far as IR concerned.
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Guest repliedWhy Bother ?
Why not go Flat rate and forget the receipts ?
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Guest repliedMine were all burnt in a fire. Shame.
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Guest repliedStorage of receipts
"I am currently putting them on a weekly basis in a labelled envelope. Once I have written them in the books, then I am putting them in a box file. Is this over the top?"
Nothing wrong with what you are doing, just remember to keep this stuff for six years.
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Guest started a topic Storage of receiptsStorage of receipts
Basic question: what do most people do to store their receipts? Any good tips or ideas?
I am currently putting them on a weekly basis in a labelled envelope. Once I have written them in the books, then I am putting them in a box file. Is this over the top?Tags: None
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