partnership self asssessment question

[frankie007]

Hello all,
I am a nominated partner and the time has come to fill in the partnership assessment form. We were renting a kitchen from a pub and supplying pubs customers with food. We were charged 15% of turnover for this. Under which heading should I enter this expense? Premises cost?Is this allowable expense? Thanks

 

[MyAccountantOnline]

Hello all,
.... We were renting a kitchen from a pub and supplying pubs customers with food. We were charged 15% of turnover for this. ...

I'd show it as rent.

 

[frankie007]

Many thanks for that.
I have another question. I filled in all separate broken down expenses like, advertising, legal etc but I am left with the large sum of money we spent on buying produce daily, like meat, fish, vegetables and so on. I don't know where to enter that on SA800 form, page 4. I tried to speak to HMRC but they are so busy that no technical advisor could speak to me. Does it go under "cost of sales"?

 

[Scalloway]

I am left with the large sum of money we spent on buying produce daily, like meat, fish, vegetables and so on.

What did you do with it if you didn't sell it on? Looks like cost of sales to me.

 

[frankie007]

Thanks Scalloway. It is the everyday expense, buying stock basically. Do you reckon that it is cost of sales? You have to understand English is not my mothers tongue, so what seems obvious to you isn't to me.....

 

[Scalloway]

If you are running a kitchen I presume you are selling cooked food so meat, fish, vegetables etc that you buy is the cost of those sales.

 

[frankie007]

Well that answers it. Thanks again for your patience Scalloway, all the best

 

[Radoslav Brodzinski]

Scalloway is always helpful, i have an issue of my own, but for sadly now i cant add new thread as im new here.

 

[Scalloway]

[QUOTE="Radoslav Brodzinski, post: 2896121, member: 315262"i cant add new thread [/QUOTE]

Click on "General Business Forum" below this post then click on the orange "Post New Thread" at the yop right.

 

[Radoslav Brodzinski]

Thank you Scalloway, i will post new thread as i have my own questiones for members of this forum (like; what to do if my business is slowly dying? or why having a great unique product i have so few customers this year?) but first i need to have 30 posts/answers to have ability of creating new thread. It is okay, i will make it soon. Thank you very much.

 

[Scalloway]

i need to have 30 posts/answers to have ability of creating new thread

I don't think so. Try doing it and see what happens. The 30 post limit only applies to posting links.