Do you need receipts for the tax man when computing CGT?

[CuriousCork]

Sold a buy to let last year and I am sending details to my accountant to compute the CGT. He has asked for copies of invoices that we paid to add a Conservatory and for landscaping. We did not keep the invoices at the time, Will this create a difficulty for us?

 

[torblednam]

How are you quantifying what you spent on it i.e. what records DO you have?

 

[ClubMan]

Your accountant will obviously need receipts to do your tax return. Revenue generally don't request receipts as a matter of course but you need to keep them for several years (up to 7 I think?) in case they ever check in more detail or do an audit.

 

[CuriousCork]

We have photos of the work carried out, architects emails and bank statements showing payments.

 

[Steven Barrett]

It is up to your accountant as to whether he feels comfortable in adding them as an expense based on the information that you can provide him. You should have kept the receipts and if you accountant isn't comfortable with it, you either fire him and submit the return yourself or you take the hit. You could also contact the people that you paid and see if they will send you receipts/ copies of the invoices.

 

[Gordon Gekko]

We have photos of the work carried out, architects emails and bank statements showing payments.

That would more than suffice.

 

[T McGibney]

It is up to your accountant as to whether he feels comfortable in adding them as an expense based on the information that you can provide him. You should have kept the receipts and if you accountant isn't comfortable with it, you either fire him and submit the return yourself or you take the hit. You could also contact the people that you paid and see if they will send you receipts/ copies of the invoices.

There is actually no obligation on consumers to keep receipts forever for personal expenditure. Bear in mind that if the OP's property was acquired in the 1970s, the expenditure in question could have been incurred almost 50 years ago.