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What to Save & Send >>

You should send us the following information:

All receipts and (if you are VAT registered) get a VAT receipt when ever possible (If you are VAT registered and you do not get a VAT receipt for your purchases, you will not be able to claim back the VAT).
All sales receipts and receipts for any other income received
All business bank / credit card / deposit account statements in order to record charges and interest

Please scan and email all of the above to
If you would rather post the originals we will charge you for the return postage (or you may supply a stamped addressed envelope).
Try to put everything through the business bank account
If you draw petty cash, keep the ATM receipt or cheque stub
If you pay for an item with your own money, either write yourself a cheque from your business bank account to reimburse yourself, or (if you wish to leave the money in the business as a capital injection) please attach a note to the receipt stating "capital injection"

To make drawings either set up a regular standing order or direct debit to draw a regular amount from the business or write yourself a cheque from the business account stating "drawings" on the cheque stub. Then simply jot down the drawings amounts for the month/week or how ever often and email it to us.
If youre not sure whether you can claim something as a business expense, get a receipt and we will endeavour to research whether or not you may be able to claim it.

If we cannot find this information, we can put the item through, and leave a note on your accounts for your accountant to decide, or, if youd rather not, we can simply leave the item out of your accounts.
You must decide how long you expect to use an asset in the business, and what value (if any) you may get for it on disposal. If you are not sure what method of depreciation to use, either call us on 0845 838 1943 or leave it to us to decide which method is best for you.

You can choose to use the asset evenly over its life, and therefore depreciate it evenly for each year of its life.
This is known as the Straight Line Method.
E.G. A computer is used equally for three years and then scrapped with no residual value. Therefore the depreciation charge per year is 33.3% each year for three years.
You can choose to get more use out of the asset in the first few year of its life, and therefore depreciate it more in those earlier years.
This is the Reducing Balance Method.
E.G. A Car (value 10000) is to be used for 10 years and will have a residual value of 500. After 5 years, it is likely that the sales reps will not use it as it looks old, and so it is used rarely by the owner to take rubbish to the tip. Therefore the depreciation charge will be 26% of 10000 in the first year, leaving a balance of 7400, and then a further 26% in the second year, leaving a balance of 5476 and so on.
Frequently Asked Questions
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