I have no receipts for any of my business expenses!

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DC101

  • #1
    I am self employed and will be filing my online SA asap, but for the things I will be claiming relief on, I have no recipts for - none.

    Over 20,000 miles (no petrol receipts), clothing, laptop (second hand)...etc - no receipts.

    I obviously need to claim these back, what is the worse case scenario and what are the likely repercussions?

    Also, I flew to the US to get married and combined it with a meeting to see the people I was contracting for, can I claim this flight back as a business expense?

    Thanks.
     
    W

    wood1e2

    Free Member
    May 2, 2007
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    Leicester
  • #2
    Fuel can be claimed at a mileage allowance of 40p per mile up to ten thousand miles, then after that xp (i can't remember the amount it maybe 25p)

    As for not having receipts, then you cannot prove that they are legitmate business expenses.

    I would write down everything, check when DD/Debit Card and cheques went out of the bank account, if you have paid by DD or Debit Card then you should have the retailers name on your bank statement. Which will help in proving what your expenses are.

    I think with the revenue they like receipts, but you can prove xy and z then I can't believe they will lock you up and throw away the key. Well unless you are talking millions of pounds :)

    Although I would seek professional advice on that to make sure along with your airflight.
     
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    Zeno

    Free Member
    Jun 12, 2008
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  • #3
    It is not a problem that you do not have receipts for fuel when claiming mileage so long as you have a log of the business miles driven. (If you do not then perhaps you can reconstruct one from your diary and the RAC autoroute).

    There are very few circumstances in which you can claim for clothes (protective gloves, goggles etc).

    Where did you buy the laptop? - Any emails from Ebay etc.
     
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    Zeno

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    Jun 12, 2008
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  • #4
    Very stirctly, the flight it was a personal expense. You could claim the extra costs of travelling to the meeting but thats about it.

    Some may advise you could claim a proportion of the flight based on the time spent working/marrying?...
     
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    E

    ellbristow

  • #13
    Last time I checked there was a maximum penalty of £3000 for failure to keep accounting records. I don't know of anyone who has been charged it, but it's a proision HMRC can use in extreme cases.

    Someone please correct me if this has changed
     
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    Zeno

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    Jun 12, 2008
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  • #14
    ellbristow said:
    Last time I checked there was a maximum penalty of £3000 for failure to keep accounting records. I don't know of anyone who has been charged it, but it's a proision HMRC can use in extreme cases.

    Someone please correct me if this has changed
    Click to expand...

    Never actually heard of it being applied in practice either. I do not think that HMRC actually define what consitutes proper accounting records anywhere come to think of it.
     
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    ellbristow

  • #15
    HMRC do have guidance on what records should be kept, though not the format they should be kept in. (i.e a sales ledger could take many forms)

    Just did a search for the guidance and can't find it on first look, but it's out there somewhere!
     
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