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Search results: 13 article(s) found in topic: Expenses - keyword: Records

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Forms P11D - cut down on form filling


Are you ready for expenses reform?

On 6 April 2016 major changes to the tax rules for business expenses paid by employers will take effect. What are they and what steps should you be taking to prepare your business? More...


Company costs paid personally - are they a problem?

Last year, one of our subscribers transferred his sole trader business to a company, but some income and expenses went through in the wrong bank account. Could this trigger an enquiry if the Taxman looks at the records? More...


When can a business expense be claimed?

It is usual practice when completing your tax return to claim business expenses on exactly the same figures as appear on your benefits and expenses return. Is this correct or could you be losing out? More...


Mile after mile of records

If the Taxman starts asking questions about the accuracy of your business mileage, what records are you supposed to have kept? Is there an easy way to satisfy his curiosity? More...


Self-audit of expenses

The Taxman has been sending out a variety of letters under his new interventions initiative. One of these is a “self-audit” of employees’ and directors’ expense claims. What is this, and how should you react? More...


Petty VAT

You’ve paid for business expenses out of a cash advance from your company. What sort of receipt do you need to avoid the VATman later reversing your company’s claim for the VAT included in your expenses? More...


Private use record


At the end of your first year…

During the preparation of your first set of accounts, it came to light that some income and payments relating to the business went through your personal bank account. What’s the safest way of dealing with this? More...


The tax cost of a freebie

A subscriber was asked for information about the people they had entertained over the previous year. Should they have kept a record of this? What’s the Taxman after now? More...
Last updated: 03.07.2020

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