Box 27 on short self employment SA form - Goods for own use

I'm a very small-time decorator, doing up my own house at the same time as starting out self employed. Have been using some paint, filler and tools originally bought for business purposes on my home. Do I need to enter an estimation of the value of paint used in this way in Box 27, or the prices of the products as a whole as originally bought? What about e.g. a hop-up I bought for business but now use for both purposes?

Hi b_smith33,
As the items are no longer being used solely for business, you cannot claim the full purchase costs and will need to apportion them based on business/private usage.
Thank you.

Thank you for your help. I'm planning on claiming the tax-free allowance rather than expenses. But the form would still suggest I need to report goods transferred to personal use anyway - why do I need to do this if I'm not claiming expenses? If I do need to report this anyway, I assume HMRC would be happy with an estimate given the difficulty of judging the exact value of the paint, etc I've used for personal use?

Hi b_smith33

If you are claiming the trading allowance then the other boxes for expenses are not applicable to you.

Thanks

Thank you - but the self employment form specifically says if I fill in the tax allowance box 10.1 I still need to factor in box 27 goods transferred to personal use. Is this simply an error on the form?

Hi ,
 

As previously advised, if claiming the trading allowance then the indivial boxes to show your expenses do not apply. Box 27 is only applicable when you are claiming actual expenses . Thank you