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Posted Mon, 23 Jan 2023 20:44:16 GMT by Smashpontoon
Hello, how to best document cash expenses on purchase of goods and services for my business from overseas parties? What’s required to demonstrate that I paid for these items in cash and the expenses are for my business in UK?
Posted Wed, 25 Jan 2023 21:35:43 GMT by Smashpontoon
Is there anybody here who can help? The deadline is approaching and I don’t know if these expenses are something I can claim. Phone lines are always busy. Wish I could spend money on accounting but times are tough.
Posted Wed, 01 Feb 2023 09:46:51 GMT by HMRC Admin 20
Hi Smashpontoon,

Please refer to the guidance below for an overview of the business expenditure records HMRC expects customers to maintain.                                      Keeping your pay and tax records  

Thank you.                              
Posted Wed, 01 Feb 2023 20:17:44 GMT by Smashpontoon
Hi, Thank you for replying. I’ve made the filing but your reply makes me more confused. It says on that link “There are no rules on how you must keep records.” So despite wanting to keep all the records I don’t know at this stage how to demonstrate (i) I purchased items using cash (ii) from a foreign trader operating outside UK! They gave me an invoice and when I paid cash, a letter saying “thanks for paying £xx”! If I need more from them I need to know because how else do we know our record keeping is good enough for HMRC? :/
Posted Tue, 07 Feb 2023 15:23:09 GMT by HMRC Admin 17

As the guidance at the link below explains, HMRC expects self-employed individuals  to keep busines records of 

(a) all sales and income

(b) all business expenses 

(c) VAT records if you’re registered for VAT 

(d) PAYE records if you employ people

(e) records re: your personal income

(f) any grants received, eg if you claimed through the Self-Employment Income Support Scheme.   

Hope this clarifies the position.      

See Link:

Business records if you're self-employed     . 

Thank you.

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