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Author Topic: Panic, tax return, no receipts or records!  (Read 3089 times)

BlaqHarlot

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Panic, tax return, no receipts or records!
« on: 21 July 2015, 06:32:39 pm »
Hiya. I'm in a bit of a wobble.
I have to do my tax return this year for the first time and I have no idea where to start and what to do it's been giving me bad anxiety.

Then to top things off a few weeks ago I was doing a massive clear out at home, old letters and things, and was burning them in the back garden as I'm quite a hoarder when it comes to those things. I thought that I had organised all the letters/receipts that I didn't want and did want properly but turns out I didn't and I burnt not only my diary which I keep all my bookings in but my receipts which would've come in handy when doing my tax return.
I've had so much stress these past few months that my mind has been elsewhere and I'm not surprised I've done this!!

So now I'm having to start from scratch and try my best to remember bookings and write them down, what can I do? And how?

Am I going to be investigated because I don't have all the receipts for expenses? I'm really stressing out, this is my first time doing a tax return and I have no idea, if someone could help me and let me know what I should be writing down and keeping that would be great and also what to do about not having any receipts for my expenses!!

Thankfully I am on a break right now so I'm hoping all this stress will blow over. Any help is appreciated. X
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Fabulassie

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Re: Panic, tax return, no receipts or records!
« Reply #1 on: 21 July 2015, 06:47:09 pm »
At worst, you won't be able to claim many expenses if you don't have receipts for them. As for income, try to come up with records that match what you've deposited and spent.
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victoryrose

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Re: Panic, tax return, no receipts or records!
« Reply #2 on: 21 July 2015, 07:01:31 pm »
This thread came about the right time. You guys will never guess... I left my tax book in a hotel room. ::) In the process of figuring out if lost property have it though I was there two weeks ago. Like Fab said, if you've burnt the receipts then that's it. I have no idea about the investigation stuff. From now on I'm doing mine digitally.
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April Showers

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Re: Panic, tax return, no receipts or records!
« Reply #3 on: 21 July 2015, 07:13:44 pm »
you can get your bank statements and see what you have banked to tally up for incomings

 and if you have paid for  hotels and adverts , train tickets  etc with your card you can use your bank statement like a reciept

also if you have booked with booking.com ( or email addy )you can go through your bookings and ring the hotels up and ask for copies of your reciepts to be sent to you . If you have paid cash for train tickets etc you are stuffed unless you have the reciepts .

try and go through your emails and aw to try and find all your bookings.

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April Showers

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Re: Panic, tax return, no receipts or records!
« Reply #4 on: 21 July 2015, 07:26:12 pm »
need a diary with all bookings

you need a ledger writing down your daily total ( at front)

ie
Jan
1st  ?220
2 nd _
3 rd?70
total end of month
etc

you should get a plastic wallet ( one for each month ) and put all your receipts for the month in that ie
Jan
1st ?50 hotel room ?20  Train travel 
2nd_ ( no bookings )
3rd?10 tube  ?60 viva street add
etc
total end of month


you write at the back what your outgoings are and itermise each receipt so it can be easily identified ( in red of green )
and you must keep all books and paper work for 6 years
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Kay

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Re: Panic, tax return, no receipts or records!
« Reply #5 on: 21 July 2015, 07:29:24 pm »
It's a bit late, but start a simple spreadsheet - all your earnings and all your outgoings. Back it up on a USB stick and Dropbox so you won't lose it.
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"There is no sin except stupidity" - Oscar Wilde

BlaqHarlot

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Re: Panic, tax return, no receipts or records!
« Reply #6 on: 21 July 2015, 07:41:08 pm »
Quote from: victoryrose on 21 July 2015, 07:01:31 pm
This thread came about the right time. You guys will never guess... I left my tax book in a hotel room. ::) In the process of figuring out if lost property have it though I was there two weeks ago. Like Fab said, if you've burnt the receipts then that's it. I have no idea about the investigation stuff. From now on I'm doing mine digitally.
Ah sorry to hear that. What are we like!
Doing them digitally sounds like a great idea, might try do it on Microsoft Spreadsheet, may actually be easier! X
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BlaqHarlot

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Re: Panic, tax return, no receipts or records!
« Reply #7 on: 21 July 2015, 07:42:14 pm »
Quote from: KayHerts on 21 July 2015, 07:29:24 pm
It's a bit late, but start a simple spreadsheet - all your earnings and all your outgoings. Back it up on a USB stick and Dropbox so you won't lose it.
Posted before I saw this.
Definitely will be doing that!
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BlaqHarlot

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Re: Panic, tax return, no receipts or records!
« Reply #8 on: 21 July 2015, 07:43:20 pm »
Quote from: April Showers on 21 July 2015, 07:26:12 pm
need a diary with all bookings

you need a ledger writing down your daily total ( at front)

ie
Jan
1st  ?220
2 nd _
3 rd?70
total end of month
etc

you should get a plastic wallet ( one for each month ) and put all your receipts for the month in that ie
Jan
1st ?50 hotel room ?20  Train travel 
2nd_ ( no bookings )
3rd?10 tube  ?60 viva street add
etc
total end of month


you write at the back what your outgoings are and itermise each receipt so it can be easily identified ( in red of green )
and you must keep all books and paper work for 6 years
This helps a lot!
I had no idea really how to keep records other than writing down when I had bookings and how much for. But this seems like a good idea so I will adopt it.

Thank you all of you for replying, not so panicked now! I kind of knew I wouldn't be able to claim for expenses if the receipts have been burned, but hey ho!

Thanks again. X
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jennybell

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Re: Panic, tax return, no receipts or records!
« Reply #9 on: 25 July 2015, 12:13:47 am »
It might help to go through your email, PayPal etc. I book a lot of things online and purchase things so I have an email an email folder in my account for work receipts. Also if you look at any feedback you have or correspondence either bunt text or email, this might trigger any reminder of bookings or how many they may have done with you.
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Naked Chef

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Re: Panic, tax return, no receipts or records!
« Reply #10 on: 27 July 2015, 11:45:27 am »
It took me a while but I had to hunt through my bank statements for hotel charges etc. I always record my bookings though.

Get yourself the tax relief diary, costs about ?14 with postage and is GREAT. I have used it religiously for this tax year.
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Jenny 2

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Re: Panic, tax return, no receipts or records!
« Reply #11 on: 27 July 2015, 02:53:02 pm »
My accountant does my tax return online but of course I provide him with all the necessary paperwork, as I do my own kind of book keeping (of sorts) but I'm pretty sure you don't have to physically produce any receipts unless you were asked to (an investigation). 

However, what I do is a spreadsheet which I have for all my outgoings so I know exactly what goes out each month from my account.  It's a good way for me to keep a discipline on my spending too. 

I also have a file I throw in all receipts as the year goes on and then at the end (usually in a panic in January) I cross reference everything with my bank account to make sure it's all there and it usually is!  However, this year I'm definitely starting before January! 

Whilst, sadly, you're now in a mess of course, I guess your only hope now is to go back to bank statements/credit card statements (if any) and work off those? 

Would your phone give you an indication of previous bookings ? 

Sounds like you will have to kind of estimate it now but for future help it's definitely worth keeping a month by month account of everything as you go along. 

Hope it helps. 
J



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BlaqHarlot

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Re: Panic, tax return, no receipts or records!
« Reply #12 on: 27 July 2015, 03:44:22 pm »
Yeah I will be looking back on bank statements and going by emails on Adultwork to determine the bookings.
I'm sure it will all work out in the end! All these replies have given me more confidence and I'm not panicky now lol!

Definitely will be purchasing the tax diary thingy too! X
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