03/06/2026
I'm always so shocked when new clients come onboard and tell me that they've never saved any receipts before.
Receipts are necessary to prove what you've spent and to clarify whether or not the amount you're claiming for is a legitimate business expense.
Without this evidence you'll be in serious trouble if you're ever investigated by HMRC.
I can hear you saying, "ah well it won't happen to me!"
But guess what? HMRC are reviewing accounts more than ever before, and they are getting more and more detailed each time.
It's not as simple as them just requesting a few random receipts. They will want you to show evidence of every detail. If they come across something which isn't quite right, they won't stop there - they can go back to previous years tax bills.
The majority of clients who come to me haven't deliberately been doing anything wrong - they've simply been misinformed or haven't fully understood what's expected of them as a business owner when it comes to reporting to HMRC.
If you're a business owner who is always second guessing when it comes to your business expenses, now is the time to act.
At EG Accountancy we'd love to get your finances in order and ensure you're fully compliant, so you don't get any nasty surprises.
https://calendly.com/egaccountancy/discovery-call