CRA Penalties for Missing Receipts and Poor Record Keeping
Missing receipts during a CRA audit is one of the most stressful situations a small business owner or freelancer can…
Articles tagged
compliance
15 articles
How Long to Keep Receipts in Canada: CRA Record Retention Rules
How long do you need to keep your business receipts and records in Canada? The short answer is six years…
GST/HST Input Tax Credits: Documentation Requirements Explained
If your business is registered for GST/HST, you can recover the tax you paid on business purchases by claiming input…
Digital Receipts and the CRA: Electronic Record Keeping Rules
The CRA fully accepts digital receipts and electronically stored records for tax purposes — you do not need to keep…
Making Tax Digital 2026: Complete Guide for Self-Employed and Small Businesses
Making Tax Digital (MTD) is the biggest change to the UK tax system in a generation. Starting from 6 April…
Making Tax Digital for Income Tax: ITSA Requirements and Deadlines
Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is the specific branch of MTD that applies to…
Making Tax Digital Penalties: The New Points-Based System Explained
Making Tax Digital introduces a completely new penalty system — replacing the old fixed fines with a points-based approach. Understanding…
HMRC Record Keeping Requirements: What Receipts to Keep and For How Long
HMRC requires every self-employed individual, sole trader, and business in the UK to keep adequate records of their income and…
VAT Record Keeping Requirements: Invoice Types and Documentation Rules
If your business is VAT-registered, HMRC requires you to keep detailed records of all VAT charged and paid. The rules…
How to Track Mileage for Taxes: IRS Requirements for 2026
Every business mile you drive is worth 72.5 cents in tax deductions for 2026. But the IRS won't take your…
IRS Mileage Log Requirements: What Records You Need to Keep
The IRS doesn't just want to know how many miles you drove. They want to know when you drove, where…
CRA Receipt Requirements 2026: Complete Guide for Small Businesses
If you run a small business or work as a freelancer in Canada, keeping proper receipts is not optional —…