Tax Centre
- HMRC Forms All the tax forms you are likely to need.
- Personal Tax Organiser A FREE tax organiser to help you organise your personal tax papers.
- Tax-Busting Checklist A basic checklist of all the areas that the small-medium sized business owner could be saving more tax.
- Tax Calendar Use our tax calendar to make sure you do not miss those important deadlines.
- Tax Rates and Allowances All the up-to-date tax rates and allowances you are ever likely to need.
- The Budget Analysis of the latest budget reports.
- Useful Tax Links Links to other helpful tax websites.
What adjustment is needed for tax if I take goods from stock for my own use?
Trading stock you take for your own use (or of family and friends) is treated for tax as sold at the normal selling price. If you pay nothing for the goods you will need to enter a figure on your Tax Return Form. In other cases enter the difference between the selling price and what you paid. The cost of providing any business services to you, family or friends is not allowable. If you operate a hotel or restaurant the cost of meals taken by you or your family is also not allowable.