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  • FIRST POST
    • ScouseLaffin'
    • By ScouseLaffin' 13th Jun 17, 2:55 PM
    • 1Posts
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    ScouseLaffin'
    Tax, bothered or not?
    • #1
    • 13th Jun 17, 2:55 PM
    Tax, bothered or not? 13th Jun 17 at 2:55 PM
    Hi, I run a small shop and for about 3 months i was in between newspaper suppliers, so i bought them for face value from a local garage obviously not making any profit. Do i still put these through the books( there was some loss from no sells) and if as the title suggests i cannot be bothered, will the taxman be bothered.
    Thanks
Page 1
    • uknick
    • By uknick 14th Jun 17, 11:04 AM
    • 615 Posts
    • 270 Thanks
    uknick
    • #2
    • 14th Jun 17, 11:04 AM
    • #2
    • 14th Jun 17, 11:04 AM
    If you don't put them through the books (purchase and sale), how will your cash book balance?


    Whether you claim the cost for tax purposes is another matter. I can't see the taxman being particularly bothered if you don't record a loss and thus reduce your tax liability.
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