Selling some books - how to account ? - Contractor UK Bulletin Board

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Platypus replied

4 September 2008, 07:41
Originally posted by moorfield View Post

Well it has crossed my mind not to bother. But presumeably Hector might check if he ever came knocking.

I would think even Hector has better things to do than check that all the purchases you ever made are still in your possession or have been properly invoiced out. What about all those stamps? Computer repairs... maybe he'll check inside your PC and look for that memory upgrade?

OK, seriously, just sell them on eBay and forget it.
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ASB replied

3 September 2008, 14:11
Originally posted by moorfield View Post

Well it has crossed my mind not to bother. But presumeably Hector might check if he ever came knocking.

You could take a view that the books are worthless and give them away (largely this is the purpose of expense items, they don't have retained value).

If the person you give them to happens to lob them on ebay and get a few quid then that's just their good fortune

Hector is not going to quibble about the second hand value of a few out of date technical books.
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moorfield replied

3 September 2008, 14:04
Originally posted by Just1morethen View Post

Surely the real question is: I trust you will be declaring the income in the company's books?

Well it has crossed my mind not to bother. But presumeably Hector might check if he ever came knocking.
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malvolio replied

3 September 2008, 14:00
Agreed!
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Alan @ BroomeAffinity replied

3 September 2008, 13:50
Originally posted by malvolio View Post

Very true. To be really pedantic, there is, but it's set at 0%. End result is the same, of course.

However I was wondering if the OP knew that...

Surely the real question is: I trust you will be declaring the income in the company's books?
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Spacecadet replied

3 September 2008, 13:39
Originally posted by ASB View Post

Surely there is often vat on technical books. If it includes media then vat is charged (or has that changed?)

Thats possibly why many tech books these days give a link to a download section on the publishers website.
Download content is freely available
Book remains at 0% VAT
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ASB replied

3 September 2008, 13:31
Surely there is often vat on technical books. If it includes media then vat is charged (or has that changed?)
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malvolio replied

3 September 2008, 13:23
Very true. To be really pedantic, there is, but it's set at 0%. End result is the same, of course.

However I was wondering if the OP knew that...
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Alan @ BroomeAffinity replied

3 September 2008, 10:50
Originally posted by malvolio View Post

They are simple income. I trust you'll be charging VAT...

There's no VAT on books.
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malvolio replied

3 September 2008, 10:35
They are simple income. I trust you'll be charging VAT...
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moorfield started a topic Selling some books - how to account ?

3 September 2008, 10:09
Selling some books - how to account ?

A while ago I bought some technical text books through ltdco, which I'm now planning to flog on ebay as they have turned out to be pretty hopeless.

As they were originally acoounted for as expenses not fixed assets how do I account for them now on resale ?
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