Quote:
Originally Posted by JimmyBuzzard
hello freelancers!
i've read this thread with interest as i'm about to sign up with a contractor umbrella company. curiously, they tell me that i don't necessarily need to keep receipts since they have a special dispensation from the inland revenue. now before you all jump on the first time poster asking a silly question do you guys actually know for sure if i need to keep receipts or are you just spouting off lines that you've heard on other forums and from so say experts? the reason i ask is because the umbrella company i'm referring to has over 6,000 happy customers and i've none of them need to keep receipts so i'm sure the inland would have been in there like a shot if they were doing something criminally wrong?
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Okay I'm going to dive straight in on this one.
You should keep your receipts regardless, store them somewhere (for the usual 6 years) even if your umbrella company is saying they don't need them. If HMRC do decide to investigate they will be referred to you for proof.
We have a dispensation ourselves, but still require receipts to be sent in for all expenses, it's just best practice. How else can we determine that an expenses has been incurred?