Yes, but ...
Absolutely, as long as there is proof the expenses have been wholly and exclusive for the purposes of the business. I seem to remember HMRC requires the taxpayer to retain actual receipts over £100
company accounts and taxation
Under the companies act 2006, small companies it is the director’s responsibility to ensure the company keeps adequate records which comply with Sections 386 and 387.
That the financial statements gives a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for the year in accordance with the requirements of Sections 394 and 395 of the Companies Act 2006.
And that HMRC has the right to inspect any taxpayer’s records under Schedule 36 of the Finance Act (FA) 08, FA09 and FA10.
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