Shopify store sole trader

SallyHall

Free Member
Feb 4, 2024
1
0
I'm wondering where the following belong in my sole trader tax return if anyone here has advice or experience in this:

Transaction sale fees per purchase in platforms like Shopify and PayPal
Domain costs and account costs (like Shopify monthly costs)
Payment to freelancers from EU who maintained and helped with the building the Shopify, sales, advertisement aspects of the business:


The categories available being:

Cost of goods bought for resale or goods used:

Construction industry (payments to subcontractors):

Wages, salaries, and other staff costs

Car, van and travel expenses:

Rent, rates, power and insurance costs:

Repairs and maintenance of property and equipment

Telephone, fax, stationery and other office costs

Advertising and business entertainment costs:

Interest on bank and other loans

Bank, credit card and other financial charges

Irrecoverable debts written off

Accountancy, legal and other professional fees

Depreciation and loss/profit on sale of assets

Other business expenses

Thanks
 
Unless things have changed (or I have mis-remembered) you can elect to just report the total sales and costs on the SA.

As long as you have a good record of what they consist of, you do not need to individually categorise them.
 
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alamest

Free Member
  • Business Listing
    Apr 18, 2012
    27
    1
    London
    www.mysimcards.co.uk
    Yes, this is covered by your tax return categories.


    • Shopify/PayPal transaction fees usually go under Bank, credit card and other financial charges.
    • Shopify monthly fees, domain and account costs are typically Office costs or Other business expenses.
    • Payments to EU freelancers are normally Wages and other staff costs, or Professional fees if they’re contractors rather than employees.


    As long as everything is wholly for the business and you keep good records, you don’t need to overcomplicate it. If unsure, an accountant can confirm.
     
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