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Posted Wed, 30 Mar 2022 00:16:40 GMT by user2022
Hi, My micro-entity business purchases stocks from overseas so the invoices from our suppliers are in a foreign currency. However, each purchase order is paid for using TransferWise which converts our payments in GBP into the local currency. Based on this, are we allowed to use the HMRC's online service to file the company tax return? Thanks.
Posted Wed, 13 Apr 2022 10:23:24 GMT by HMRC Admin 26

Purchase of stock from overseas would not be itself preclude you from using HMRC's online filing service.

For a full list of the conditions, please see the GOV.UK website.

You will need to ensure that you have a balanced set of account prepared in accordance with accountancy principles and adjusted for tax purposes before you can use the online filing service.

Thank you.

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