Party Plan Income Query
MonicaG
Registered Posts: 3 New contributor 🐸
Hi, have been approached about accounts for a self-employed party plan consultant. She takes ALL the money and then passes it to company LESS the commission. Depending on her sales she receives free goods to supplement her display kit, which she paid for initially.
Would I be right in treating the income as the commission element only, and then off-set any expenses ie purchase of stock, mileage, stationery etc. How do I treat the free goods - they are not personal but for the kit?
Thanks for any help - I know HMRC are having a blitz in Party Plan at the moment and want o make sure I don't miss anything glaringly obvious.......
Would I be right in treating the income as the commission element only, and then off-set any expenses ie purchase of stock, mileage, stationery etc. How do I treat the free goods - they are not personal but for the kit?
Thanks for any help - I know HMRC are having a blitz in Party Plan at the moment and want o make sure I don't miss anything glaringly obvious.......
0
Comments
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I am not sure, but would assume the full amount as income! Then money sent to supplier as expenses.0
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