Dear All
I have what I suspect is a silly questions. But I cannot find the answer on this website or other websites. Apologies if this has in fact been answered before.
My question is:
I have been running a band agency (i.e. a type of service provider) for a few months as a sole trader and I often have to pay costs on behalf of clients for related services from other service providers (e.g. mail forwarding), which I then reclaim from the client. These costs would be classified as a disbursement if I was VAT registered, but I am not VAT registered and this is not the nature of my question.
The issue is I am filling in my first income tax self-assessment form and I do not know how to account for these reclaimed costs. Are they expenses? Are they costs of sale (assume not as not products)? Anything else?
I feel the answer should be obvious but can't work it out. Any suggestions?
Many thanks.
Mitch
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