You’re updating your accounts, next item on your list: that insurance premium you pay monthly. Annoying, because you (sometimes) don’t receive a monthly document on that. Insurance without an invoice, so how do you get it into your accounts?
Surely here you just go to work with, say, a bank statement. Something from document actually to then book your expenses in.
At the time of tax audit, the auditor will need a bit more information than a monthly bank statement. After all, that does not sufficiently prove which insurance it is exactly about. But don’t worry, at that point you also provide the insurance contract and then the auditor does have the full picture.
That way, the insurance without invoices has a place in the accounts. It is mainly the paid insurance premiums that are important here.
Are you subject to VAT?
One last tip: include insurance premiums in your vAT declaration.
No VAT is charged on insurance, so there is no additional recoverable VAT by including that premium in your vAT declaration. But if you purchase something from a company that is not subject to VAT (an insurance company, for example), that purchase also belongs in your vAT declaration.
