Stolen kit Huddersfield

[treequip]

I have accounted books going back something like 8 years, but not receipts, I take all the receipts out from between the pages and wazz them (translation for non yorkshire people, wazz = throw away ).

 

Surely your not expected to keep receipts when you've had a chartered accountant go through them ??

 

Oh and yes, write serial numbers and take photo's

 

If you get audited, it’s the receipts that they want to see.

Anyone can write a balance sheet but you need to be able to back it up with documentation.

If you don’t have the documentation the tax man can decide what they think you owe.

[Yorkshireman]

ooops sorry i'm l8 on this one Pete

 

let me know if you need owt mate

 

rgds

iain

[Mesterh]

I have accounted books going back something like 8 years, but not receipts, I take all the receipts out from between the pages and wazz them (translation for non yorkshire people, wazz = throw away ).

 

Surely your not expected to keep receipts when you've had a chartered accountant go through them ??

 

Oh and yes, write serial numbers and take photo's

 

Receipts matter your accountant doesnt.

 

I'll echo what others have said about keeping receipts but also add this.

 

We had a minor investigation where the inland revenue asked for 12 months worth of fuel receipts, we handed them over and they were happy.

Now if I had a few missing they would have enquired further, if I had none they would have performed a full investigation and went through everything.

 

So it can save you alot of hassle in the long run.

 

If you have no receipts they WILL hammer you for everything going back years, you will have to pay all the tax back plus penalties and they will watch you for many more years to come.

 

I used to work in the inland revenue (15 years ago mind)so I know how it works (or did )

I've seen tax bills of £750,000 writen off because of clever lawyers and then seen the small guy hammered to death.

 

Its not worth it mate, after your accountants done with them just throw them all in a box for safe keeping:thumbup1:

 

You wouldnt want to work all these years to have it go down the pan

[Dean Lofthouse]

Ok I give in.

 

So how long do I need to keep the receipts Mesterh

 

 

I've always said honest people will get shite on more than anyone else

[Mesterh]

I've always said honest people will get shite on more than anyone else

 

Yep you aint wrong there.

 

Six years after the end of the tax year as a rule, not sure about the 3 years Buzz said but i'll look into it.

 

It just aint worth losing money over paper work, although its the part of the job I hate the most

[Jonesie]

We keep 6 years as a rule takes up a serious amount of space.

[Dean Lofthouse]

We keep 6 years as a rule takes up a serious amount of space.

 

The paperwork for you must be horrendous, 6 years worth

 

So we have to keep records of all our belongings as well, that includes household stuff, we have to prove to our insurers that we actually owned the things we are claiming for and have to have receipts and serial no's for everything we own.

 

I'd better start my inventory, should take me a couple of years to complete

[Jason James Gairn]

Something smells there, check your insurance proposal form to see what you insured your tools as. Also if it comes to it name and shame the insurer on here and then email the loss adjuster a link. In these times they'll unlikley want to lose business and a 7k payment probably only equates to 2 tree surgeons annual polices.

 

[ame]http://uk.youtube.com/watch?v=IxAKFlpdcfc&NR=1[/ame]

stick it to em!

[Lee Winger]

Thanks for the words and offers gents.

 

 

I'm determined not to let such low-life thieving phallus munchers win. business as usual tomorrow!

 

 

Sorry to hear about this Pete, i've got a few saws etc down here i'd be happy to lend you, i'd be offended if you needed them and wouldn't take me up on my offer....

[bill]

its sickening, ive been there. the only spare kit i can offer is a knackered rake sadly.