invoices

[alorawindowcleaning]

hi everyone, for invoices i know if you have commercial clients they want the invoice but for residential do you give the customer an invoice clean?

or do you just need to make an invoice and put it to the side for your self assessment

p.s sole trader

 

[dazmond]

I post slips printed off cleaner planner for domestics and email (or print off) invoices for commercial jobs.job done.

Round software like cleaner planner,aworka or squeegee makes it very easy to keep records of turnover,expenses,debts,etc for filling out your self assessment tax return

 

[alorawindowcleaning]

I post slips printed off cleaner planner for domestics and email (or print off) invoices for commercial jobs.job done.

Round software like cleaner planner,aworka or squeegee makes it very easy to keep records of turnover,expenses,debts,etc for filling out your self assessment tax return

but do you need to give an invoice to the customer every time? or can you just make invoices and keep them just for tax return or do you have to do both?

cheers

 

[Pjj]

but do you need to give an invoice to the customer every time? or can you just make invoices and keep them just for tax return or do you have to do both?

cheers

No you don’t have to give them an invoice/ receipt but do need to keep records for HMRC in case you get an investigation

 

[Jaygti]

I text customers an invoice, if they don’t pay cash at the time, but it’s not like an official invoice that I give to commercial customers.

 

[alorawindowcleaning]

And one last question, for it to match if you are audited, when you receieve payments by bank transfer do you ask the customer to leave the note as their name or do you get them to put their address? Cheers

 

[Iron Giant]

And one last question, for it to match if you are audited, when you receieve payments by bank transfer do you ask the customer to leave the note as their name or do you get them to put their address? Cheers

For bacs payments, it's the first line of address as the payment reference, I have full customer details though full name etc.

 

[alorawindowcleaning]

For bacs payments, it's the first line of address as the payment reference, I have full customer details though full name etc.

Full customer details in the invoice? Or on the payment

 

[Iron Giant]

Full customer details in the invoice? Or on the payment

I have full customers details for every job, full name, address, phone number and email address, then if an invoice a text or email contact is required I have all the details,

The above is also good for accounting HMRC etc as well as there is a full digital trail, I use an app so everything is digitally logged each and every clean payment made etc.

 

[dazmond]

hi everyone, for invoices i know if you have commercial clients they want the invoice but for residential do you give the customer an invoice clean?

or do you just need to make an invoice and put it to the side for your self assessment

p.s sole trader

but do you need to give an invoice to the customer every time? or can you just make invoices and keep them just for tax return or do you have to do both?

cheers

Of course not.....

Basically all you do on your tax return(cash basis)is total turnover(payments only)and expenses for that year.thats it and HMRC work out your tax,NICs and send you your bill...if its your first year don't forget payment on account(which basically means your paying 6 months tax in advance).a lot of guys get caught out with this and end up with a bill much larger than they thought....

Remember HMRC do everything for their advantage NOT yours....

Only if you get an investigation will you need to show accurate records of work done,paid(and method of payment)and proof of expenses.i recommend cleaner planner personally as I think it's fantastic for keeping records (effortlessly and efficiently)and of course you ll need to download your bank statements if you mainly get paid online,by card,etc.

Print off your end of year accounts and put them neatly in a folder with all receipts for that year just in case you need them in the future.

I think legally you need 5 years of account records to hold on to.

 

[Pjj]

Of course not.....

Basically all you do on your tax return(cash basis)is total turnover(payments only)and expenses for that year.thats it and HMRC work out your tax,NICs and send you your bill...if its your first year don't forget payment on account(which basically means your paying 6 months tax in advance).a lot of guys get caught out with this and end up with a bill much larger than they thought....

Remember HMRC do everything for their advantage NOT yours....

Only if you get an investigation will you need to show accurate records of work done,paid(and method of payment)and proof of expenses.i recommend cleaner planner personally as I think it's fantastic for keeping records (effortlessly and efficiently)and of course you ll need to download your bank statements if you mainly get paid online,by card,etc.

Print off your end of year accounts and put them neatly in a folder with all receipts for that year just in case you need them in the future.

I think legally you need 5 years of account records to hold on to.

You have to keep records for 6 years , but if you get an investigation they can go back 20 years . It would be very difficult for us to keep that amount of records to try and defend yourself. Funny enough I was having this discussion with my accountant only a couple of weeks ago he has a client being investigated and HMRC are going back 18 years

 

[alorawindowcleaning]

I have full customers details for every job, full name, address, phone number and email address, then if an invoice a text or email contact is required I have all the details,

The above is also good for accounting HMRC etc as well as there is a full digital trail, I use an app so everything is digitally logged each and every clean payment made etc.

Oh ok so no need for them to put their name on the bacs payment because if hmrc ask then you have the first line of address which matches tontheir name?

 

[dazmond]

If you have 6 years trading records but no more what do HMRC do?just make up what they think you owe them??

 

[Pjj]

If you have 6 years trading records but no more what do HMRC do?just make up what they think you owe them??

Not sure how it works to be honest the guy in question is a builder , he has been paying tax and now has an investigation and they are going back 18 years but dont know what they use for evidence

 

[Bell Pallisey]

talking of hmrc and any govt dept for that matter did you know they can swoop in ,look see and freeze your bank account And empty it if they think you owe them money.No warning,not like the old days where you got warning letters,replied and then possibly went to court.The system changed about 5yrs back .Its up to you to prove your case .This happened to me a few yrs back i was so lucky id kept bank statements that proved id paid my dues going back ten yrs if i had not kept these id av been up shirt creek.

 

[Bell Pallisey]

i no longer keep any amount of money in a bank . Just enough to cover everyday bills . Thats another thing if you cannot prove where your moneys from in your bank they -the govt.- can seize it ,youre a "money launderer " prove it otherwise

first you know is when you come to use your bank card and it says account locked.Bank wont help you either

 

[dazmond]

talking of hmrc and any govt dept for that matter did you know they can swoop in ,look see and freeze your bank account And empty it if they think you owe them money.No warning,not like the old days where you got warning letters,replied and then possibly went to court.The system changed about 5yrs back .Its up to you to prove your case .This happened to me a few yrs back i was so lucky id kept bank statements that proved id paid my dues going back ten yrs if i had not kept these id av been up shirt creek.

How can this happen?you wont be able to pay your bills or buy food if your bank accounts are frozen with no warning esp these days with not many people having cash.

So do you stash lots of money in your mattress now like the good old days???

 

[johnny bravo]

My son sold a few cars on ebay and i mean a few he worked as a car salesman and he would offer the seller a couple of hundred quid extra than trade in price. a little side line a few do and still do.
he had his wages going into bank also

One day he went to the hole in wall to get cash. Nothing . Account Locked. He had to explain to the bank where this money came from. He said its F all to do with you . All his money Frozen in account. He had to explain to the bank what it was for. HMRC got involved via the bank. took money from his account as they said he owed Tax on this.
Cash only after that.
Still cant get credit because of it . He now works off shore getting £15000 a month he still cant get credit
You cant Hide your money if in a bank

 

[Bell Pallisey]

How can this happen?you wont be able to pay your bills or buy food if your bank accounts are frozen with no warning esp these days with not many people having cash.

So do you stash lots of money in your mattress now like the good old days???

as i say this new system [search and seize] came in 5 yrs or so ago. You dont get any warning-if you did youd empty your bank account wouldnt you. Its any govt dept. too ,child maintenance,motor tax whatever theyll trawl all the banks and first you know is your accounts locked . Since then i heard of a guy his granny gave him a couple of thou he banked it thought nothing more of it -till some time later his account was locked .I THINK these new powers were really put in to tackle organized crime but the ordinary joe is fair game.When it happened to me i was using this account to pay out wages to 3 employees i was damn lucky i had a stash in my bedside cabinet and about 3 weeks later once id proved i owed nothing -in fact it turned out They owed me !! but i got told youre way too late to claim [over 5yrs] so i just got my seized moneys returned and my account unlocked.

 

[dazmond]

It's worth keeping a few grand in cash at home then just in case....?

 

[Iron Giant]

Two replies on here say it all, if you are up to no good putting £1,000's into a bank account with no digital trail and it looks essentially like proceeds of crime to someone from the outside you'll get stung.

Watch the programme about the brinks mat robbery they funnelled most of it through banks, times that by God knows how much and how many times tax avoidance etc it's into the billions.

Keep it clean and you've got absolutely nothing to be concerned about, people who need to stash money under a mattress or somewhere else are up to no good, a lad a grew up with had only one reason to stash his cash he was a career criminal