jimmer_needs_help

I'm a sole trader / self assessment tax person. The problem I'm having is my reading of the rules doesn't allow for me to include my labour into the value of parts or unfinished (or finished) assemblies. I can handle that for the purpose of my tax return but it doesn't sit right with me, so I want to check that I will be doing the numbers right. Lower of Cost and NRV. The cost will be the lower value. Cost: includes raw materials, direct and overhead costs. My 'problem' is that my labour isn't a direct cost. So this throws up anomalies in my mind such as two identical parts on the shelf will have very different stock values depending on whether I made it myself or paid some else to make it. For a finished product that will be sold for £3000, the costs in it might be £500. It seems wrong to value it at £500 in my tax accounts. It will be valued at £3000 in my "management accounts". Looking for confirmation that my reading is correct, and I ignore my labour. Or a basis for including my labour on the value. Thanks.