Micro entity accounts - missing receipt

Discussion in 'Accounts & Finance' started by CVN, Sep 6, 2019.

  1. CVN

    CVN UKBF Newcomer Free Member

    15 0
    Hi
    Just wondering if it’s acceptable to include an entry that in your books that doesn’t have a receipt? It’s a minimal amount, and receipt has just been lost....

    Thank you
    Catherine
     
    Posted: Sep 6, 2019 By: CVN Member since: Oct 25, 2017
    #1
  2. justintime

    justintime UKBF Regular Free Member

    523 70
    If you can back it up with a bank statement I would say include it. Should HMRC investigate further down the line and spot it, they may reject it, they may not.

    If it's cash I wouldn't bother, you have nothing to back it up.
     
    Posted: Sep 6, 2019 By: justintime Member since: Apr 12, 2009
    #2
  3. Victoria_V

    Victoria_V UKBF Regular Full Member

    135 17
    Posted: Sep 9, 2019 By: Victoria_V Member since: May 29, 2019
    #3
  4. STDFR33

    STDFR33 UKBF Big Shot Free Member

    3,923 996
    I would it include the cost in your accounts regardless.

    Not including the cost in the accounts would mean that you have understated costs (albeit immaterial in this instance) in your financial statements. Whether it is later disallowed for tax purposes doesn't effect whether or not it should feature in the accounts.
     
    Posted: Sep 9, 2019 By: STDFR33 Member since: Aug 7, 2016
    #4
  5. justintime

    justintime UKBF Regular Free Member

    523 70
    Yes, a valid point. I was considering the tax return, not the accounts.
     
    Posted: Sep 10, 2019 By: justintime Member since: Apr 12, 2009
    #5