Self Employment Tax Expenses

Brightent

Hi

I worked as a self employed last year. I have travel expenses ( daily traveling from my home to client office )
I have receipt for 400 pounds for another 400 pounds I dont have.

Can I claim 800 pounds

Accountant telling that I can claim and this is basic and reasonable expenses to go to work

Is that right? But I checked in HMRC website. they didnt mention it

can u please suggest me .


|Thanks
Bright

chrismac1

The question I ask my clients in the case of unreceipted items is: "What would you do if you're asked to produce a receipt at short notice?" which an Inspector is perfectly entitled to do in the course of a visit. if Joe Bloggs gave you a scrawly hand-written receipt 2 years ago you are toast. But if you paid by debit or credit card or got an invoce you've now lost from a decent-sized organisation, you are not toast. They have a legal obligation to keep their records for 6 years, and they will keep them for 6 years. So the Inspector picks out a few line items, and you quickly phone up the suppliers / credit card companies etc. and ask them to e-mail you (ideally, post if not) a copy. Sometimes this will be quick - if it's more than 2 years ago there will be a fee and it will take a week or two, the record will have been archived.

But in the end you'll have your evidence and the potential tax bill will be back down to nil.

suso

chrismac1 wrote: »

The question I ask my clients in the case of unreceipted items is: "What would you do if you're asked to produce a receipt at short notice?" which an Inspector is perfectly entitled to do in the course of a visit. if Joe Bloggs gave you a scrawly hand-written receipt 2 years ago you are toast. But if you paid by debit or credit card or got an invoce you've now lost from a decent-sized organisation, you are not toast. They have a legal obligation to keep their records for 6 years, and they will keep them for 6 years. So the Inspector picks out a few line items, and you quickly phone up the suppliers / credit card companies etc. and ask them to e-mail you (ideally, post if not) a copy. Sometimes this will be quick - if it's more than 2 years ago there will be a fee and it will take a week or two, the record will have been archived.

But in the end you'll have your evidence and the potential tax bill will be back down to nil.

any inspector is entitled to ask for evidence of expenses, to say that its the responsibiliy of the supplier to provide evidence of expenses is rubbish,

It is the responsibility of the individual/company to keep accurate records / receipts. A standard fine of 3000 is applicable for not keeping accurate records. Don't rely on others to keep your records

Don't rely on charlatan accountants either