Receipts missing!
ademoore
Registered Posts: 146 Dedicated contributor 🦉
Hi,
I was wondering how hard a stance you all take on your clients, when they have transactions going through their bank statements, but no receipts or paper to back it up - i'm talking on the expenses side of things!
With compliance checks so high right now, is it better to take a stance of "no receipt no claim" or take the view that it "could" be seen as a business expense (and quite likely is), so put it through and let the client deal with it should an inspection come up?
Thanks.
I was wondering how hard a stance you all take on your clients, when they have transactions going through their bank statements, but no receipts or paper to back it up - i'm talking on the expenses side of things!
With compliance checks so high right now, is it better to take a stance of "no receipt no claim" or take the view that it "could" be seen as a business expense (and quite likely is), so put it through and let the client deal with it should an inspection come up?
Thanks.
0
Comments
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Take for example a direct debit to Scottish Widows. It could be motor, life, business or Siamese hamster insurance so we'd usually make a quick phone call to the client to confirm. For most smaller things they would be put through because given it's the businesses bank account, it is quite right to assume it's a business expense. Obviously if there's a weekly card transaction to Bargin Booze, usually ending in .99 and corresponding with this week's offer, it's most likely personal!0
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