The New Thread

henlans

lawrie28 wrote: »

However, as running a business, you are sat on stock of £8670, so if you look at the net value of the business, if you take the £1200 cash used as a loan, which was repaid by the sale of £1200 of stock, then your left with £7470 in stock value. Therefore over the period of trading you have increased the net worth of the business/made a profit of £7470, which could be taxable.

My knowledge is more about Ltd Companies than Sole Traders, which is what you would be classed as, but IMO it is a grey area.

I would be thinking about keeping some of the better stock to sell incase I was asked to pay a tax bill........

I think your missing the point. I have paid for them goods. at the total amount. I have a recipet to show so if I bought £8500 in goods I have recipet to show I paid £8500

David.

tyzer2001 wrote: »

Evening all!

Couldn't resist another quick womble tonight, today's grand total is £17.76.

:j:j:j:j:j

Amazing, seriously are you buzzing if you could do that a few times a week how great would that be :j.
Have not been myself for a few days but would never be away if the pickings where that good :cool: unfortunately 9/10 for me as far as wombles go asda is cheaper :mad:

henlans

I am going to draw a line on this and allow people to talk about other things. I have done nothing wrong. I stand with what I said.

TroutU

lawrie28 wrote: »

However, as running a business, you are sat on stock of £8670, so if you look at the net value of the business, if you take the £1200 cash used as a loan, which was repaid by the sale of £1200 of stock, then your left with £7470 in stock value. Therefore over the period of trading you have increased the net worth of the business/made a profit of £7470, which could be taxable.

My knowledge is more about Ltd Companies than Sole Traders, which is what you would be classed as, but IMO it is a grey area.

I would be thinking about keeping some of the better stock to sell incase I was asked to pay a tax bill........

that last point is excellently made!

henlans

TroutU wrote: »

that last point is excellently made!

You are only posting to cause trouble. I added you to my ignore list.

TroutU

henlans wrote: »

I am going to draw a line on this and allow people to talk about other things. I have done nothing wrong. I stand with what I said.

Thank you so much for the permission to dicuss other things but this discussion has stopped and started all eveing and I suspect it may yet carry on regadless of your line.

mc4martyc

Interesting bit in the telegraph article might be worth printing off and keeping
“Customers can still claim up to £100 in APG vouchers per calendar month, or up to ten vouchers in a month but not exceeding £100. This is monitored through the website, and colleagues will not be required to enforce this in store,” the spokesman said. :eek:

mc4martyc

whos round is it anyway????
:D

henlans

mc4martyc wrote: »

Interesting bit in the telegraph article might be worth printing off and keeping
“Customers can still claim up to £100 in APG vouchers per calendar month, or up to ten vouchers in a month but not exceeding £100. This is monitored through the website, and colleagues will not be required to enforce this in store,” the spokesman said. :eek:

I think asda have taken this glitch and been very good about it.

Stores have been a little funny sometimes but HO has been really respectful and allowed people to contiune to use the glitch.

harvestmoon

This is my first go at this and I'm definitely confused. I understand the principle but am struggling with the detail e.g. does there have to be at least 8 comparable items as appears to be implied? Do I understand correctly that there is a 'trigger' item which encourages the 'glitch' to come into operation? I've made a purchase today based on my own comprison of prices but don't know yet if it will work. I've looked fully through this tread but suspect I need to look at the original thread which I don't appear to be able to access. Can anybody give me a link to the original thread?