Limited-company directorsTax & records

How should a two-director company approve expenses?

Both directors buy things for the company and reimbursements are becoming informal.

Source and scope: My Business Path prepared and reviewed this general guidance as a practical starting point. It is not advice tailored to your circumstances. Check the linked official source before acting. GOV.UK: Company expenses and benefits

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Set evidence, business-purpose, approval and payment rules, including who approves a director own claim. Reconcile regularly and document exceptional or connected-party transactions.

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