With regard to expense receipts e.g. from Wilkinsons, PC World - they do not show the VAT amount seperatley - is it ok to work out the VAT amount from the total
You shouldn't but it's something that I believe we've all done on occassion.
Clients should ask for VAT receipts or at least have a receipt that shows the VAT number.
I know that I've been picked up on an inspection before for inproper receipts but the amounts involved were very, very minimal. The inspector is quite within their rights to disallow expenses without proper receipts but will invariably not pull you up on very minor (both in terms of amount and frequency) infringements.
PC world receipts are awful at the best of times aren't they. I mean, what's the point in receipts where the writing disappears on contact with sunlight! It's got to the stage now that whenever I get PC world receipts I photocopy them and staple the original, soon to be blank receipt to them.
Personally I won't actually buy from PC world because of their receipts but there's very little you can do about clients buying habbits.
Also worth noting that with PC world it can sometimes be difficult to work out the VAT element from a receipt as books do not attract VAT but books with CDs do. In such instance where no VAT receipt exists it may be easier to disgregard the VAT and explain the clients mistake to them so that they do not make it again going forwards.
HTH,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
