when to claim expenses

[simes]

While the initial question may on some fronts sound interesting, by far the more interesting aspect for me is why the bl--dy invoices havn't gone in yet.

Put me out of my misery will you, and tell me what the thinking is behind that.

Me; last day of the month and the invoice(s) go in, and the expenses come out.

[Gonzo]

I can't see any reason not to put your expense claim through the books even if you don't pay yourself the money yet. You can credit the Directors' Loan Account with the money if you don't want to pay it out (assuming you are a Director) or just leave yourself as an outstanding creditor.

By not putting them through the books you, or rather your company, will end up paying VAT that could be reclaimed (assuming that there is a VAT element to the expenses and you are not on the flat rate VAT scheme).

It is swings and roundabouts I know because the VAT can be reclaimed later but your company's cash position is one of your primary responsibilities.

[RichardCranium]

Don't forget you personally can put in a claim for expenses from your LtdCo and then not take the money out.

However, for giving your agency three months of 0% credit. You are providing a better service for the national economy than the banks are. And when the agency goes bust because they won't get a week or two's worth of margin at the end of the year, the other contractors that have been paid will be very grateful to you, I am sure.

Get. The. Invoice. In.

[SueEllen]

Why haven't you invoiced your agency?

What are you going to do if your agency goes bust?

[trsisko]

Hi there,


I have around 1000pounds worth of travel expenses to claim for 3months worth of work almost over the last 3 months, since i haven't invoiced my agency yet for the 3months worth of work i dont want to take out the expenses from my business account as its looking a tad thin anyway, since my quarterly returns are due by the end of this month, can i avoid inputting my expenses into the spreadsheet for my accountants until January or do i have to put them in there even though i don't want to take the expense out of my business account, I suppose I have to declare them for this quarter?