Bussiness expense receipts

[Koksmanreikals]

Hi.

I have one question regarding business expense receipts.

Lets say I buy something for bussiness online and use company card. But on invoice it shows billing details my personal details instead of company details.

Is it acceptable? Knowing that I am director of company anyway.

Thank you in advance for your advice.

 

[WaveJumper]

In these situations I always ask myself if I am sitting there opposite a representative from HMRC can I justify this or any other expense. Is this truly a business expense, is your business address and home address the same.

If its a one off and legitimate expense claim I cant see a problem

 

[Koksmanreikals]

In these situations I always ask myself if I am sitting there opposite a representative from HMRC can I justify this or any other expense. Is this truly a business expense, is your business address and home address the same.

If its a one off and legitimate expense claim I cant see a problem

It is truly business expense. You see problem is for example if I am buying in online shop, lets say Screwfix you have to register with your personal details.

And after you place an order and pay it with company card billing to details is shown as my personal details but paid with company card.

I am wondering if its okay, because on invoices it looks like its billed to me but paid with company card. Company name is not shown.

 

[WaveJumper]

Well to be honest its fairly straight forward you should be setting up the Screwfix account or any supplier chain for that matter with your company details

 

[Scalloway]

What I do is fill in the company details as part of the delivery address.

 

[Koksmanreikals]

What I do is fill in the company details as part of the delivery address.

If I am collecting my order then delivery details are not displayed anyway.

There is multiple shops where I buy online and most of them does not allow you to set up account directly for limited company. When setting up account it asks just for personal details.

 

[ctrlbrk]

It is truly business expense. You see problem is for example if I am buying in online shop, lets say Screwfix you have to register with your personal details.

And after you place an order and pay it with company card billing to details is shown as my personal details but paid with company card.

I am wondering if its okay, because on invoices it looks like its billed to me but paid with company card. Company name is not shown.

This thread may help

Director's expenses: company Vs personal card

I searched on here for this before posting, assuming there would be at least one topic that asks the question but I drew a blank. Are there any obvious differences between paying a company expense with the company's bank account Vs. paying the same expense with a personal card and submitting...

www.ukbusinessforums.co.uk

 

[DontAsk]

Do as Scalloway suggests and include the business name in the addresses (invoice and delivery).

 

[Newchodge]

If I am collecting my order then delivery details are not displayed anyway.

There is multiple shops where I buy online and most of them does not allow you to set up account directly for limited company. When setting up account it asks just for personal details.

The invoice (from Screwfix) shows name and address. Put the company name as the first line of the address.

 

[MikeJ]

In 20 years of being a director, I probably averaged £30-40k of expenditure on my cards each year. Mainly travel (flights, hotels, meals) but also various bits of capital equipment, from computers to pumps to plastic pipework. Pretty much anything physical came to the office, but there were times when it was convenient to have it sent home. Rarely had the company name on it, was never once questioned by HMRC, the accountant or the one audit we had.

 

[Lucan Unlordly]

How does the HMRC view things if I, as I've been doing today, use all of my own personal tools, screws, glue etc., to do a job in my business unit??

I ask as most people seem to worry about what the HMRC will say but not so the reverse situation.

 

[Chris Ashdown]

Simplest way is to enter under Name " fred Bloggs T/A xxxx Ltd

 

[WaveJumper]

As mentioned before everything is straight forward and "hunky dory" if you cover your backside so when (and it does happen I've been there and got the t-shirt) you have HMRC sitting in your office going through every invoice over a two year period its nice to know your squeaky clean.

Things though can sometimes have a way of catching you out, a very good friend of mine through at the time and shell I say, no fault of his own had HMRC descended on him due to an investigation they had being doing on a rather large supplier. he used This lead onto a knock on effect of looking at companies they supplied, him being one.

No problem he thought, nothing to see here all fine and dandy, until they were standing in his house having a meeting and asked where the phone was. Don't have a landline "oh really" well who does these days. Lets review your mobile phone claims ........ this lead to a 2 year investigation, and I wouldn't wish that on anyone.

So my advice is make sure you get the detail right and sleep well at night.

 

[Paul Kelly ICHYB]

you have to register with your personal details

No you do not!

 

[MyAccountantOnline]

Hi.

I have one question regarding business expense receipts.

Lets say I buy something for bussiness online and use company card. But on invoice it shows billing details my personal details instead of company details.

Is it acceptable? Knowing that I am director of company anyway.

Thank you in advance for your advice.

The easiest way to avoid any issues is to ensure all company costs are invoiced and supplied to your company. This also avoids any issues with VAT recovery and potential benefit in kind issues.

 

[WaveJumper]

The easiest way to avoid any issues is to ensure all company costs are invoiced and supplied to your company. This also avoids any issues with VAT recovery and potential benefit in kind issues.

And HMRC pointing at a Toaster and asking who paid for that ...... honest I am not making this up