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Where Taxpayers and Advisers Meet

New company help with records

SamW1989
Posts:3
Joined:Fri Sep 08, 2017 5:00 pm
New company help with records

Postby SamW1989 » Fri Sep 08, 2017 5:07 pm

I've just came across this forum when trying to find out more information in regards to setting up my own company.

I plan to see an accountant eventually however since I am only just starting to plan things I don't want to start spending money until I know I can actually do what I want to do.

I plan to setup a farm I have plenty of experience with it and I know what I am doing on that front.

The issue is that I plan to sell directly to consumers rather than wholesale.

At the start I will be selling locally to friends family which I will most likely deliver to them fresh.

I'm confused in regards to record keeping.

I've read that for EVERY sale a company makes a corresponding invoice needs to be in place with customers name, address, phone number, tax number etc.

Which leads me to be confused if I have to do that some customers who purchase simply a chicken may not want to give me all that information? I go to Tesco and they don't ask my name how do they get around that?

My friends and family I could convince to give me that information but when I start selling to more people due to increase in business strangers I don't know are very unlikely to give out these details. I know I wouldn't give out my home address to someone selling me food?

Could anyone shed light on this and if I have misread something and if I'm wrong how I would record these sales?

Thanks

Sam

SamW1989
Posts:3
Joined:Fri Sep 08, 2017 5:00 pm

Re: New company help with records

Postby SamW1989 » Sat Sep 09, 2017 3:59 pm

Bump can anyone help?

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: New company help with records

Postby bd6759 » Sat Sep 09, 2017 9:51 pm

As you allude in your queestion, it most certainly is not the case that you must harvest personal date from each and every customer.

You simply record what you sell and for how much. Keep track of the where the money goes (preferably straight into your bank account).

SamW1989
Posts:3
Joined:Fri Sep 08, 2017 5:00 pm

Re: New company help with records

Postby SamW1989 » Sun Sep 10, 2017 11:42 am

Thanks for your reply.

Could you please confirm to me then why it says on government website that it's a requirement of a Ltd company's to keep recorded invoices of ALL sales and then it says what needs to be included in the invoice which is name address NI number etc ?


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