Tax / Stock Question

[Impulse1976]

Hi geeks, just a quick question when you are entering the costs of goods bought for re-sale or goods used do you include the charges for delivery of goods in this section too, or do you entering it into the other allowable business expenses section? :grr:

Any other help and advice will be happily received too

 

[persianista]

yes you do. delivery charges are part of your costs in the same way as stock.

 

[Impulse1976]

yes you do. delivery charges are part of your costs in the same way as stock.

Thanks this is quite daunting, its my first return and wanted to do it on my own rather than paying for an accountant.

 

[persianista]

a good accountant should save you more money than they cost you. They use lots of clever tricks to minimise your tax bill legitimately. Mine has been worth his weight in gold over the years. Their charges normally reflect the size of your business and whether you trade ltd or sole trader.

 

[loubylou]

a good accountant should save you more money than they cost you. They use lots of clever tricks to minimise your tax bill legitimately. Mine has been worth his weight in gold over the years. Their charges normally reflect the size of your business and whether you trade ltd or sole trader.

This is so true :hug:

 

[Impulse1976]

I havent had a full year trading yet and i also do it in the evenings and weekend so i havent actually got into the black yet Hopefully next year i will be and then i will get an accountant.