Tax matter question

[m4tty]

Hi,

Does it matter if you use different bank accounts other than the main business account for mobile phone bills and internet bills if you wanting to claim for these through the business?

Or do you just put the reciepts in (doesnt matter how youve paid for these)

Not explained very well .. sorry

Thanks

 

[ProDave]

I pay my mobile phone bills on my credit card and charge those to the business.

 

[paul b b]

i just stick the bill in and put in the outgoings box when i do my accounts

 

[Doc Hudson]

You should have no problem m4tty. It is perfectly reasonable for any trades person to purchase materials using any suitable method that is appropriate at the time of purchase, Cash, Cheque, Debit card, Credit card, Trade account etc. Providing all of the receipts are kept to verify the purchases and the accounts balance, there should be no problem.

Doc H.

 

[Evans Electric]

No problem with doing that , M4tty, just enter it all in your accounts and keep all receipts.

 

[netblindpaul]

Only one comment, if you are ltd. you should avoid "tainting" your personal accounts with business transactions.

If you "taint" them then HMRC can investigate your personal finances if they have any issues with the company affairs.

IF they are not "tainted" they cannot.

"Tainting" is putting business transactions through your personal finances.

How many SME's keep the finances that far apart!

HTH

 

[Evans Electric]

Don't think M4tty is Ltd . What/who are/is SME ? Netty ?

Deke

 

[netblindpaul]

Sorry, it is business speak for Small or Medium Enterprise (SME).

That is a small to medium sized company.

Sorry all!

 

[Tooold]

On a slightly different subject. My accountant has been told/asked for some of her clients to provide fully itemised mobile bills to prove the % business use, and the same for internet use. Fully itemised phone bills are a complete pain and take hours (you have to put the persons name next to phone number!!) so i'v got a very cheap pay as you go for personal use and claim 100% for the other mobile. I have got a very low useage dongle for internet use as I couldnt think how to itemise it. Overall I may have spent a little extra but dont have to spend hours itemising. And they all come out of the business account