Buying goods with no invoice

Discussion in 'Accounts & Finance' started by k100danny, Aug 10, 2019.

  1. k100danny

    k100danny UKBF Regular Free Member

    449 48
    I wonder if someone could help me out here, we are buying new items for storage ect for our warehouse, pallet cages, rails and shelving. I have been offered some pallet cages from someone who has closed their business and they are a very good price, used they are usually around £130 plus vat, he wants £40 for them but wants cash, is there anyway for me to write my own invoice for these to claim as a business expense if not I suppose I am still better off than buying elsewhere but just wanted to see if there is any way to do this.

    any help much appreciated.
     
    Posted: Aug 10, 2019 By: k100danny Member since: Oct 23, 2013
    #1
  2. GraemeL

    GraemeL Pain in the neck? Full Member - Verified Business

    5,065 1,084
    Even though you pay in cash, your supplier can write out a receipt for you.
     
    Posted: Aug 10, 2019 By: GraemeL Member since: Sep 7, 2011
    #2
  3. Victoria_V

    Victoria_V UKBF Regular Full Member

    114 15
    Hello! Regardless of the method that you pay (cash, cheque, card, bank transfer), if you are purchasing goods from somebody, they should be able to give you a receipt or some sort of proof of purchase. Whether you are trading as a LTD company or a sole trader, you will only be able to claim this as a genuine business expense if you have a receipt for it.
     
    Posted: Aug 12, 2019 By: Victoria_V Member since: May 29, 2019
    #3
  4. MBE2017

    MBE2017 UKBF Enthusiast Free Member

    935 244
    If your supplier doesn’t wish to issue an invoice write your own into petty cash expenses, under sundries etc.
     
    Posted: Aug 12, 2019 By: MBE2017 Member since: Feb 16, 2017
    #4
  5. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    12,700 2,354
    Can I ask why?
     
    Posted: Aug 13, 2019 By: MyAccountantOnline Member since: Sep 24, 2008
    #5
  6. bodgitt&scarperLTD

    bodgitt&scarperLTD UKBF Regular Free Member

    133 43
    Just write anything on a bit of paper.
     
    Posted: Aug 13, 2019 By: bodgitt&scarperLTD Member since: Nov 26, 2018
    #6
  7. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    10,431 2,109
    One way that meets all legal obligations is for you to buy them personally and then sell them yourself to the company and just petty cash to yourself
     
    Posted: Aug 13, 2019 By: Chris Ashdown Member since: Dec 7, 2003
    #7
  8. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    12,700 2,354
    It's certainly best to get an invoice or receipt as evidence of a business expense but not having one doesn't mean you cant claim genuine business expenses - bear in mind you may have other evidence such as an email agreeing the purchase.
     
    Posted: Aug 13, 2019 By: MyAccountantOnline Member since: Sep 24, 2008
    #8
  9. MyAccountantOnline

    MyAccountantOnline UKBF Legend Full Member

    12,700 2,354
    If you read the HMRC guidance here you will see no where does it state you MUST have an invoice. It tells you to record all business expenses and lists the types of proof you need to keep.

    I would try and keep as much evidence as possible if you cant get a receipt. Record the supplier and the payment date in your records and make a one-off cash withdrawal from your business bank account on the date of the purchase for the exact amount.
     
    Posted: Aug 13, 2019 By: MyAccountantOnline Member since: Sep 24, 2008
    #9