Hi there, I started a Ltd Company over a year ago that I've not had much chance to work on. Its made just a few sales & now the corporation Tax return is due. I appreciate most people hire accountants, but the business isn't moving yet & the cost of it doesn't make sense currently for me.
So wondering if anyone could help with a couple basic questions reg the HMRC forms?
1: The company made a loss of -£21 in total, shipping costs & expenses (Paypal/Ebay fee's) taking it into a loss. On the Profit & Loss page I have shipping as Distribution costs, would the above fee's come under Administrative expenses? There's no where else I can put it to get an operating profit/loss of -21, unless I include the fee's in cost of sales. Just trying to label things correctly.
2: Where would the distribution costs fall under Expenses? I've seen mention of Vehicle expenses but unsure if anyone knows better.
Appreciate any advice given. Thanks.