Lost receipts

DawnyDawny Settling In NicelyMAAT, AAT Licensed Accountant Posts: 60
Director of a company has claimed back expenses for business costs paid by himself but has lost the receipts to back up the claim.

Whats the best way to do deal with this? Should I post the credit to the directors loan (which is currently owed to the director) or write the expenses off and dissallow for corporation tax purposes.

Thanks!

Comments

  • zephyrzephyr Settling In Nicely Registered Posts: 19
    I think it depends on the amount involved.

    I would be tempted to write the amounts off, if there are no receipts.
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