Taxes - I can't find my receipt!

Raymond Lin

Raymond Lin

Raymond Lin

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I am doing my taxes at the moment for my photography business. I do have an accountant and in order to save myself some money and speed things up, I am splitting the receipts into expenses and capital. The expenses part is fine, travel, ink, etc all added up.

But I have a slight problem, I can't find the receipt for a couple of lenses I got back in 2009. Now, I know they come into capital expenditure, and I know you can still put it towards it but one lens was bought 2nd hand, and the problem is I have no receipt for either. I mean if push comes to shove, the amount can be shown coming out of my account (need to find bank statement). I do still have the lenses so if the taxman turns up and ask for proof of those items, I can show him.

But for the purpose of the form, can I just put down the amount I paid? And what amount do I put? Current market price, or cost price? or current 2nd hand market price (as I know if it is machinery, depreciation is taken into consideration, though lenses don't really depreciate much with time, only with condition and mine are like new)
 
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Where did you get the lenses from? Any chance you could get another receipt if your transaction is still on file/record? Was going to say perhaps a printed off email might count as some sort of proof...:o
 
Greenlizard0 said:
Where did you get the lenses from? Any chance you could get another receipt if your transaction is still on file/record? Was going to say perhaps a printed off email might count as some sort of proof...:o
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One was 2nd hand so no receipt, the other was from that Scottish guy call Ian who has a shop on Ebay.
 
Just put how much you paid for it

Edit: You only need the receipt if HMRC ask for proof. And the likelihood for the cost of a lens (which most likely will be covered by AIA anyway) isn't significant.

Edit2: And don't leave it so late next year! Darned annoying!
 
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Pudney@work said:
Just put how much you paid for it

Edit: You only need the receipt if HMRC ask for proof. And the likelihood for the cost of a lens (which most likely will be covered by AIA anyway) isn't significant.
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I would have to take a guess too, I recall the ROUGH amount, it is a 135L 2.0, I think I paid around just under £800. Something like £775 but I can't be 100% sure! I know its not far off and current price is around that anyway. Like I said, lenses cost and value don't change much.
 
Pudney@work said:
Just put what you know then. Is this a sole trade? I just assumed it is as it's January :D
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Yup! I am cutting it fine.....

I am almost there now, the biggest part is the receipts for expenses and I just done that, all the little bits like train and taxi fares and coffee with client meet, are fiddly. The Capital part isn't as long, the income part is even shorter so I should get it all totalled up today.
 
Raymond Lin said:
Yup! I am cutting it fine.....

I am almost there now, the biggest part is the receipts for expenses, all the little bits like train and taxi fares and coffee with client meet, are fiddly. The Capital part isn't as long, the income part is even shorter so I should get it all totalled up today.
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Yeah, in that case it shouldn't matter too much, for the sake of £25 price range the tax on it isn't that much.

Good job you are totalling it, nothing more irritating than expenses not analysed. Especially with a week to go. In fact I was at work this morning having to deal with peoples' tax stuff who hadn't sent it in already! :p
 
I somehow managed to get the day off today. There's nothing worse than clients deciding they finally want their tax return doing at the end of January even though they've been reminded time and time again since April. rahhhhhhh!!!!!!!!!!! only 9 more days to go and then I can sleep :p
 
Grr really annoys me leaving it till the last minute..

I've 2 jobs in to start next week and 4 to finish off all before next friday. Not going to be fun putting in a week and a halfs work into 5 days!!
 
vonhelmet said:
As in glasses that go on your face?

What's the expected useful life? If it's less than 2 years, it's a revenue expense. Are they used solely for business or is there mixed use?
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Mixed, and life span is 2 years (though last pair lasted 3) as I get an eye test every 2 years.

I wear it everyday and for work.
 
Raymond Lin said:
May be I just claim 10% ?
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Would you need them if you weren't doing the job you're in? If so, then I wouldn't think a claim can really be justified. That being said, if it's just going on the return, covered by the Annual Investment Allowance, and you're claiming like £30 or whatever, then I'd just stick it down and wouldn't worry about it.
 
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