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new to tax returns, what about stock held?

(4 Posts)
funkybuddha Thu 23-Jan-14 18:13:24

Hi all, hope you can shed some light on this, I have worked out my outgoings against the money I have taken and I have a minus figure which is ok. But, what do I do about the stock held, is it insignificant?

TalkinPeace Thu 23-Jan-14 20:42:58

you need to remove the value of unsold stock from this years purchases so that you can set it against next year's sales

have a look at the page I wrote for ebayers ...
sample accounts on there

funkybuddha Thu 23-Jan-14 21:03:22

Great, thank you!

Georgiesgirl Sat 15-Mar-14 06:00:23

Really useful and concise. Thank you!

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