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Where Taxpayers and Advisers Meet

What records do I need to keep

billyg
Posts:118
Joined:Wed Aug 06, 2008 3:47 pm
What records do I need to keep

Postby billyg » Thu Jan 09, 2020 5:23 pm

Hi I have a small business , my transactions usually range from £40 to £500 do I need to provide each client with an invoice ?
Do I need to record a list of the payments I receive with a relevant invoice no ? Or is the date enough ?

Regarding expenses they are normally supermarket receipts which can amount from a few pounds to 50 pounds.

Do I need to numerically index these , or can I list them in date order ?

Thanks

billyg
Posts:118
Joined:Wed Aug 06, 2008 3:47 pm

Re: What records do I need to keep

Postby billyg » Thu Jan 09, 2020 5:27 pm

Also should I just get rid of bookwork from the last 6 years or might I just as well keep it ?
Thanks

pawncob
Posts:5089
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: What records do I need to keep

Postby pawncob » Fri Jan 10, 2020 1:31 pm

You've been running various businesses for many years now, both LTD and S/E. You should know all the answers by now. (over 100 posts)
With a pinch of salt take what I say, but don't exceed your RDA


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