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I want to establish a Limited Company in UK, but I have some questions. We are from Turkey. We sell virtual products, we work with a 20% profit margin. We sell in-game currency and products for online games. We supply these products from individual customers who want to sell on our website. For this reason, we cannot receive invoices from these users. We buy these products from our customers in Europe. Although 90% of our sales are in Europe, we sell to the whole world. Are money transfers that we send to individual users to purchase products counted as expenses while filing tax returns? What do we need to be able to prove it as an expense without a receipt?
Thanks in advance!