31-05-2012, 06:00
(31-05-2012, 01:45)curlytots Wrote: I'm gonna budge in on this conversation - whilst talking to HMRC the other day, they said I don't need to *prove* my income or expenditure when it comes to self assessment, so do I need to keep receipts etc? I buy most stuff online so mostly online confirmations...?
I was going to try and do it myself, as it seems fairly straight forward.
Also - can we can claim for features on AW? I pay for features every day and to be a member of my group.
Whilst what you was told was correct in the sense that you don't have to send them receipts etc every year to prove your numbers (that's why it's call Self Assessment as you tell them what your situation). You DO have to keep books and records (receipts etc) for 6 years.
Should the tax man ever open an inquiry into your affairs - they would be perfectly entitled (and they do) to ask for receipts and something to back up the income figures.
Link to HMRC website HMRC
If you get inspected and your records don't conform to a standard or they bear no resemblence to your tax return then you will have opened up a big can of worms for the taxman to play in.
Keep receipts and records - it's the only safe way.