Filing accounts for a private ltd company.

ashishporwal

ciscosurplus wrote: »

Yes perhaps over the top, but having been investigated for exactly that I am a little more bias, I used to take the number of rooms in the house and divide them by my office (6/1) then tax gas electric, council tax totals /6, the inspector then decided to go through everything. This was pre-April 2008 too, in the end he allowed me to keep 60% and I had to pay back 40% of it. The difficulty was separating electricity use without proof, for example I have a couple of PCs, laser printers, servers etc, but then the tax inspector said if I could show how much it draws and when I good justify electricity. Also gas was hard as my office isn’t manned 24/7.

While not meaning to scaremonger, I am simply pointing out it can be tricky ground, and the tax advice I have received is that anything over £2 per week is likely to trigger an investigation.

What this should highlight is that the OP should seek specialist advice as this is a potential minefield.

You all are right but what bewildered me was the 5% extra charge. I keep all my book keeping with all the reciepts and up to the mark acounts.
Thanks though