Postage receipts

[rachybaby1]

Hi All,

I am just in my first year and was told by HMRC not to stress bout the tax side yet and just keep a record of all sales and keep any receipts of stuff I buy. Does this include postage?

Thanks

Rachael

[bodrighy]

I didn't at first but as the postage comes up in my income using PayPal I have started to now .

Pete

[nattynetty]

Gosh yes definitely keep records of postage it really adds up - my postage costs every year come to a four figure amount...no wonder the post office folk are so nice to me :)

[JABBY]

Yes keep all your postage receipts, as they add up over a year. I would suggest making a note on the back of the receipt, to remind you which order it was against.


regards
John
www.jbwoodcraft.co.uk

[matt.chatterley]

Hi All,

I am just in my first year and was told by HMRC not to stress bout the tax side yet and just keep a record of all sales and keep any receipts of stuff I buy. Does this include postage?

Thanks

Rachael

Yup - postage is part of your Cost of Sales. You probably want to be tracking it back against each order so that you know what they cost you to post vs what you charged the customer, too!

[dee_liteful]

oooh definately!!I'm in same boat as you, this is my first official year on the books!! That postage really adds up!x

[AnnieAnna]

Definately! Also for all my packets and parcels it's proof of posting. Useful to have for WHEN ;) Royal Mail looses a parcel. Not for large letters (jiffy bags) though. They get popped in the post box down the road but I keep the receipt for the stamps.
Like the other have said - it doesn't half mount up!

[rachybaby1]

Thanks everyone...Im sure Ill be asking more questions as I go on.