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Sole trader expenses

yorkiechick
yorkiechick Posts: 117 Forumite
Part of the Furniture 100 Posts Name Dropper
edited 18 March 2020 at 11:35AM in Cutting tax
My partner has set up as a sole trader and I'm going through all the receipts and expenses for the 19/20 tax year. Some of the items I have purchased for the business and show on my bank statement, which isn't a joint account. Is this OK? The items are still for sole use for the business.

Comments

  • oldbikebloke
    oldbikebloke Posts: 1,096 Forumite
    1,000 Posts Name Dropper
    edited 18 March 2020 at 11:32AM
    technically no, unless she has refunded you the cost from her bank account to your bank account so the cost has genuinely been paid by her

    but who is ever going to know or care given you state they are 100% business use
  • badmemory
    badmemory Posts: 8,721 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    If you keep accurate records these would class as cash payments.
This discussion has been closed.
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