Sole Trader Expenses - Self assessment help please! :(

Dano2k

Hi everyone,

This is my first year completing an on-line self-assessment form.
I am registered as a Sole Trader but I am not VAT registered.

I am getting stuck at the expenses (goods for use or resale) section. I don't know whether or not to include VAT and I cannot seem to find an answer anywhere.

An example:
I am a graphic designer who works on artwork and then purchases prints on-line and then sells them to clients.
If I purchase a print for £50 +£10postage +VAT what do I put in the expense box?

£50? £60? £72?

I am hoping/guessing it will be £72.00 but i'm just not sure.
Thanks in advanced for replies.

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If you've got this far and don't mind helping a litter longer I have a second query (thank you, lol).

I purchased a new graphics card (for my pc) for business use whilst purchasing some computer memory (not business use) from an online shop at the same time. Stupidly they are on the same invoice so I am not sure what I can/cannot claim for.

I am guessing the expense would be: graphics card cost + VAT + half the postage cost.

Any idea if thats correct or how I can find out?

Many thanks for reading!!

Dan

stone7

Answer to your first question is £72.

The postage on the second purchase, what would the postage be for one item and how much extra is the postage to add the additional item?

So, graphics card + VAT + cost of postage for 1 item/1st item/the full postage amount if a flat postage rate is charged.

Dano2k

stone7 wrote: »

Answer to your first question is £72.

The postage on the second purchase, what would the postage be for one item and how much extra is the postage to add the additional item?

So, graphics card + VAT + cost of postage for 1 item/1st item/the full postage amount if a flat postage rate is charged.

Because this is a past transaction it's impossible to tell how the postage is worked out exactly. The invoice simply states item 1, item 2, postage & VAT.

in this instance would I be better to split the postage in half or include the full cost?

Many thanks for your help.