Slimmingworld consultants expenses

[JoBo1]

Hi all
Newbie here, first post, hope you can help.

Slimmingworld groups run raffles every week, collecting supposedly to cover the costs for refreshments during the group meetings. Do any of the income and costs associated need to be included in the P&L and tax return? Costs associated would be the coffee/tea/refreshments etc, but would also be the costs to supply a raffle - which is often food (I know!!) or might be eg a set of scales etc.

Thanks in advance

[pawncob]

I don't think it's worth the candle, so ignore it.

[JoBo1]

Thank you

[robbob]

I would be more concerned if you were close enough to the vat threshold to push you over and it was not obvious that income received was not simply part of your inclusive fee.

Either way keep detailed records - if you make a margin off any surplus or don't have receipts to substantiate the money paid the taxperson may get the wromg impression that you are making additional profit.

seems strange you go somewhere to lose weight and the lucky ones are given food to eat as a reward.

[JoBo1]

Hi Rob
Thank you for your answer
Its nowhere near the threshold fortunately. In fact only had the franchise for about 5 months but spanned 2 tax years 2018-19 and 19-20.

Lots of receipts for items used for raffles. I get what you mean about the food as a reward! But its all good healthy fuit/veg and other slimming stuff/ingredients to make a SW meal, plus things such as a set of scales, food moulds, one egg frying pan, that sort of things so there are receipts for these receipts for some coffee/sugar but not all for the refreshments as no weekly receipts for milk!!

There are some notes of how much was taken on each meeting raffle!

I can include the income, but concerned about the food expense as such is not usually deductible, unless of course the business is in the provision of food. Would you include the income and then expense for non food items or go about it in some other way?

Appreciate your thoughts