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idealrob

  • Posts: 666
Re: Is cash tax free?
« Reply #20 on: April 26, 2011, 09:57:02 pm »
and dont forget HMRC check forums etc and posts, so dont worry when the inspection takes place, thats if another forum member does not pass on your post to HMRC.
A mate of mine who i know is 100% honest, got an investigation by HMRC, they asked hundred of question, even down to how he paid for his lunch.


idealrob

Londoner

Re: Is cash tax free?
« Reply #21 on: April 27, 2011, 08:16:38 am »
Somebody I know, a taxi driver, has had years of misery from the tax man. And it all started from a few small queries.

The only people who don't have to pay tax in this country are people from the EU working here "temporarily" they can elect to pay tax in their own country. Yeah right.......

Paul Coleman

Re: Is cash tax free?
« Reply #22 on: April 27, 2011, 08:27:36 am »
Yes everything is taxable Cash, Cheques  and Bank Transfer etc. Your Accountant would ask to see your Receipt Book as you suppose to give a Receipt for payments receive from Domestic Customers as for Invoice this is the proof of income cominng into your business.

Your Cash Book should have Cash In on one side and Payments on the other side so if you brought a sandwich you can prove that you spent a bit of income coming into the business so everything is accountable.  ;) ;) ;D



Are you sure about that bit about receipts?
I know that receipts/invoices must be given for commercial jobs.  However, I thought receipts for domestic jobs only had to be given if the window cleaner was VAT registered.

christopher b

  • Posts: 112
Re: Is cash tax free?
« Reply #23 on: April 27, 2011, 08:34:12 pm »
By law if a domestic asks for a recept you have to provide one.
you do not need to give every domestic a recept yet you must provide a record.
the best thing to do at end of day produce an invoice made out to "day takings" and on it list every job and charge  then total the lot up. this then goes in your books as a credit.
HMRC would be happy with this.
its just like a till recept in a way, in a shop they do a end of day this places the days total at end of till recept and the roll is basicaly a type of invoice!