hi aall just a quick question regardingreceipts etc
I've been keeping all receipts that contain any purchases to do with my business. My friend said the other day that she only claims on those that she hasn't priced into her work. Ie if I bought a notebook to alter and then sell then I shouldn't claim on notebook/papers etc as they are calculated into the price.
Is that right?..
also what reason am I keeping receipts for? To claim back tax, if I have a vat receipt or just to work out expenses. I'm a little confused. As I've just started I don't want to forget to keep something and get told off!
Thanks guys x
I've been keeping all receipts that contain any purchases to do with my business. My friend said the other day that she only claims on those that she hasn't priced into her work. Ie if I bought a notebook to alter and then sell then I shouldn't claim on notebook/papers etc as they are calculated into the price.
Is that right?..
also what reason am I keeping receipts for? To claim back tax, if I have a vat receipt or just to work out expenses. I'm a little confused. As I've just started I don't want to forget to keep something and get told off!
Thanks guys x
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