Friend of mine used to run a fried chicken takeaway had a inspection of his book for the pasy year.
His staff used to buy stuff from his supplier contacts using his account number, as he never used to receive statements from them (although he was aware of this) he did not know how much were these private purchases, the HMRC now claims that all the purchases were his business use and therefore uplifted the sales and therefore would lead to potential VAT liability.
but he is determined to stick to that these purchases were not for his business (he obtained letters from his previous staff, admitting that they were used but stuff from suppliers using his name to take advantage of the special offers etc.
Will HMRC accept this?
any comments will be appreciated.
thanks for your time
- Contingent Liability - Copyright Dispute - Disclosure ? 245 7
- Directors loan accounts 377 9
- Can I zero rate the VAT? 322 7
- Payment for Promotional Samples 254 1
- Transactions between Associated Companies 104 2
- Cash withdrawn and not accounted for 183 1
- Employed clients and expenses 793 14
- Nil Rate Band Trust - index linked debt by way of charge over property 1,033 1
- Share premium or Directors Loan 698 29
- Taxfiler V's BTC 905 34
- Know it alls (who don't) 1,109 20
- Halloween - do you celebrate it? 517 18
- I.d for vat registration 274 10
- Bookkeping software 901 9
- Capital allowances anti-avoidance 291 9
- Accounting for VAT not yet paid in year end 251 4
- Auto Enrolment set up 347 2
- SA302's anyone?? 2,836 42
- VAT return - Box 7 & 9 Vat cash accounting 135 2
- Clearing payments on account/ Sage 50 162 6
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 540
- NOVA 489
- Bonus Bonds 375
- Insolvency and whistle blowing 354
- Transfer of funds into recently set up company 274
- TPR imposes first penalty notice fines 239
- Friendly Pensions 170
- Box 8 VAT Return - deposit payment 156
- Husband proposes to buy the car as Director unable to acess finance 140
- Finance Lease 140