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Receipts for Self-Employed

jewels.pjewels.p Font Of All KnowledgeRegistered Posts: 1,774
Hi,

I wondered if someone could advise me please. My Partner is a Self-Employed Gardener and has recently purchased a Second-Hand Ride on Lawnmower from a Private Seller. How do we show this in his Books as there is no Invoice as it was a Private Seller. Should I type out something stating that it was bought Privately?

Thanks

Comments

  • A-VicA-Vic Expertise Guaranteed Registered Posts: 6,970
    jewels.p wrote: »
    Hi,

    I wondered if someone could advise me please. My Partner is a Self-Employed Gardener and has recently purchased a Second-Hand Ride on Lawnmower from a Private Seller. How do we show this in his Books as there is no Invoice as it was a Private Seller. Should I type out something stating that it was bought Privately?

    Thanks

    Could you not ask the seller for a receipt ?
  • jewels.pjewels.p Font Of All Knowledge Registered Posts: 1,774
    A-Vic wrote: »
    Could you not ask the seller for a receipt ?

    Already did but it was a little old (RICH) man who said Sorry but he couldn't give us a receipt!
  • Anne BoleynAnne Boleyn Well-Known Registered Posts: 196
    Receipts

    Hi

    Hopefully it was paid from a bank account or credit card and so there is a paper trail. Not every purchase has to be accompanied by a receipt although I don't tell clients this up front.

    Obviously it is always best to have a receipt as evidence but sometimes it isn't possible. I would record date of purchase, name, address and phone number of the seller and the amount. If you do have a statement showing the amount I would include a copy of this in place of the receipt.

    Hope this helps.
  • jewels.pjewels.p Font Of All Knowledge Registered Posts: 1,774
    Hi

    Hopefully it was paid from a bank account or credit card and so there is a paper trail. Not every purchase has to be accompanied by a receipt although I don't tell clients this up front.

    Obviously it is always best to have a receipt as evidence but sometimes it isn't possible. I would record date of purchase, name, address and phone number of the seller and the amount. If you do have a statement showing the amount I would include a copy of this in place of the receipt.

    Hope this helps.

    Thanks Anne :001_smile:
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Hi

    Hopefully it was paid from a bank account or credit card and so there is a paper trail. Not every purchase has to be accompanied by a receipt although I don't tell clients this up front.

    Obviously it is always best to have a receipt as evidence but sometimes it isn't possible. I would record date of purchase, name, address and phone number of the seller and the amount. If you do have a statement showing the amount I would include a copy of this in place of the receipt.


    Hope this helps.

    Yes, very good advice.
    As much information as possible should suffice.
  • MargaMarga Experienced Mentor Registered Posts: 981
    hi Jewels

    My husband is a self employed gardener too!!!

    If he paid by credit card or transfered money to bank account these transactions will show in the statemements so this can be entered either in the Credit card purchases (eeven if you dont have a receipt) or into the bank account transfers

    If he paid by cash then you can put it through as being an expense/purchase paid out from Petty cash. Manually create a "self invoice" for this purchase with the name of the seller the address amount paid etc it would show as if this would be a duplicate sent from the supplier to you. You can always bring this to the person who sold it and ask them if they could sign that as proof.
  • VonniVonni Feels At Home Registered Posts: 63
    My hubby was a gardner a few years ago and bought most of his equiment 2nd hand without receipts.

    I kept a copy of the advert and all the other info previous responses have indicated.

    We did have an enquiry by the Revenue and the inspector concerned wasn't happy that we didn't have 'invoices' for the major purchases - but he had to concur that we had kept adequate information to support the lack of them.

    V
  • MonsoonMonsoon Font Of All Knowledge FMAAT, AAT Licensed Accountant Posts: 4,071
    Vonni wrote: »
    We did have an enquiry by the Revenue and the inspector concerned wasn't happy that we didn't have 'invoices' for the major purchases - but he had to concur that we had kept adequate information to support the lack of them.

    V

    That's really useful (and encouraging) to know, thank you :)
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