Tax return question

[MerrilyMe]

being an idiot and i know i knew this last year, but where do you put the value of your held stock at the end of the tax year on the SA sheet? Help appreciated, if anyone can!!!!!

[chris]

I believe you only show the amount of stock sold in the year. The tax office does not need to know about unsold / held stock (until it has been sold).
(you only receive tax relief on sold stock).

[MerrilyMe]

So effectively i take it off the cost of goods bought - that was what i thought but dh thinks there ought to be a box somewhere!

[chris]

Sorry, only a box for stock sold.

[MerrilyMe]

Fab- thank you!

[Bunny]

you need to add your opening stock figure to your purchases figure then deduct your closing stock and put the net figure into the goods for resale box on your tax return