Receipts & Record Keeping

Best practices for managing, organizing, and storing business receipts. Digital receipt storage, receipt scanning tips, and how to handle lost receipts for tax compliance.

Invoice vs Receipt: The Difference and What HMRC Needs

An invoice is a request for payment; a receipt confirms the money arrived. HMRC treats them differently: only VAT-registered businesses issue VAT invoices, a receipt proves you paid, and you keep both. How they differ, what each must legally show, and a worked example.

17 Sept 202610 min read

Receipts & Record Keeping

Business Receipts UK: What You Need to Keep and How to Organise Them

HMRC accepts receipts, bank statements, invoices, and till rolls as valid proof of business expenses, but a valid receipt must show specific information, your retention obligation is five years (not six), and Making Tax Digital is changing how records must be kept.

16 Jun 20269 min read