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  • IR checks

    In no way am I implying that I wish to swindle my IR payment sbut I just wondered how much they check things when the tax form is filled in.

    Do they do random spot checks, calling on businesses to hand over receipts?
    https://folksy.com/shops/GrimmExhibition


    http://poisonedapplecraftuk.blogspot.co.uk/

    Poisoned Apple Theatre - Handmade Crafts on Facebook

  • #2
    Yes you need to keep your recipts for 5-7 years can't remember which.
    I think they more likely to spot check on the big earners though. Are you planing on making Millions?
    "You've Got to Keep Your Mind Wide Open" - AnnaSophia Robb
    my Folksy shop Goldy'sclearoutblog debaynewebdesign


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    • #3
      Originally posted by Seahorse View Post
      Do they do random spot checks, calling on businesses to hand over receipts?
      Yep...

      Keep everything..

      Your first yr is very important.. You will be looked at closely..
      The 2nd year should follow the pattern of the first with more expenses and more money made.. If the income yr by yr changes alot or expenses change a lot (off pattern) then you be picked on..
      .


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      • #4
        Originally posted by goldy1 View Post
        Are you planing on making Millions?

        Yes, arnt we all?!

        I quite enjoy filing so receipts are all up to date(ish).
        Thanks for the info.
        https://folksy.com/shops/GrimmExhibition


        http://poisonedapplecraftuk.blogspot.co.uk/

        Poisoned Apple Theatre - Handmade Crafts on Facebook

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