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Paying a contractor in stock
vinylpimp
Posts: 2 Newbie
in Cutting tax
I hire a few contractors for my business, sometime I combine bank transfer with some stock they want to take as payment.
Can the contractor subtract the value of these items from their invoice to me, or these items required to be raised as a new sale?
Example
10 hours work x £20 = £200
I pay £180 plus £20 worth of stock
Also for accounting purpose, would this invoice cost remains at £200 then I add £20 sales, or £180 + £20 sale?
Many thanks!
Can the contractor subtract the value of these items from their invoice to me, or these items required to be raised as a new sale?
Example
10 hours work x £20 = £200
I pay £180 plus £20 worth of stock
Also for accounting purpose, would this invoice cost remains at £200 then I add £20 sales, or £180 + £20 sale?
Many thanks!
0
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