subsistence advice

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!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

contractor_it replied

17 September 2007, 21:39
cheers for all your advice
Leave a comment:
xoggoth replied

14 September 2007, 18:56
Have had a couple of visits and inspector did not ask for receipts, they would rarely have time to go checking though loads of minor receipts. They are really looking for major things they can get you on, big stuff or whole categories of expenses incorrectly claimed. Keep things from now on and don't worry about it.
Leave a comment:
DBA_bloke replied

14 September 2007, 15:14
"subsistence advice": soup kitchen?
Leave a comment:
NotAllThere replied

14 September 2007, 11:20
I'd make a record of the amount, purpose and date of the expenses. And from now on, keep the receipts. If HM comes knocking, you can explain that you hadn't understood the importance of keeping receipts in your first month, but you rectified the situation as soon as you did. Then it will be up to them to fine you and charge you interest on the, what, £25 you diddled them out of, you tax evading scum, you, or not.
Leave a comment:
sathyaram_s replied

14 September 2007, 10:10
Given the small amount, I would not bother much .. Try to get receipts to cover this £100 by Apr and you should be fine... The approach may have to be different if the sum involved was higher.

I am not an accountant though

Originally posted by contractor_it View Post

Hi,

i have recently started contracting, and have been slightly misled by the umbrella company that i have joined that I can claim £X without reciepts.

From doing a bit of reading around on the internet I now understand that I need to keep the reciepts incase of a tax enquiry.

I have so far claimed around £100 and have not kept any of the reciepts.

My question is, what do I need to do to rectify the fact I have claimed £100. Will the inland revenue be happy if I don't claim for my next £100 of subsistence but keep the reciepts ? Basically, do I just need to accrue £100 worth of reciepts over this tax year to cover the £100 I have claiimed for ?Or do I need to declare to them what has happened now to avoid any issues in the future ?
Leave a comment:
contractor_it started a topic subsistence advice

13 September 2007, 21:07
subsistence advice

Hi,

i have recently started contracting, and have been slightly misled by the umbrella company that i have joined that I can claim £X without reciepts.

From doing a bit of reading around on the internet I now understand that I need to keep the reciepts incase of a tax enquiry.

I have so far claimed around £100 and have not kept any of the reciepts.

My question is, what do I need to do to rectify the fact I have claimed £100. Will the inland revenue be happy if I don't claim for my next £100 of subsistence but keep the reciepts ? Basically, do I just need to accrue £100 worth of reciepts over this tax year to cover the £100 I have claiimed for ?Or do I need to declare to them what has happened now to avoid any issues in the future ?
Tags: None