A6.955 Credit cards

A6.955 Credit cards

The same type of information is required for credit card costs as other expenses, as a credit card payment is simply another way of meeting an expense. HMRC will expect an employer to have receipts and information about each item on a credit card statement. There are a number of danger areas including:

  1.  

    •     lack of detail; HMRC will make its own assumptions if an employer is unable to satisfy it of the nature of the expense

  2.  

    •     cash withdrawals (both in sterling and overseas currency); HMRC will expect these to reconcile to expense claims and receipts

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