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Hello
I am struggling with the following scenario. If a sole trader takes goods/stock for their own personal use, I understand that the amount of drawings would be the market value/sale price. So for example, if a shop owner took £1000 worth of goods that could resale for £2000, then the drawings would be £2000 which I would include within box 60 of SEF 3 (linked below). What would the correct recording of this if the sole trader made a contribution of £1500 towards the goods and included this in the sales/turnover value. Would I reduce turnover (box 15) by £1500 and record £2000 in box 60? The only other way I could do it would be to not amend the turnover value (box 15) and record the goods for personal use (box 60) as £500, but I don't think this is correct as it would overstate trading sales and undercast drawings. I've included the link to the form:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/501544/sa103f-2016.pdf
Thanks in advance for your help.
Dean
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