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Determining inventory for secondary occupation retouching

DVDB
07/07/2025
Question

I do small-scale alterations for a shop. (I am not subject to VAT.) I am still struggling to estimate how to determine the amount of inventory. Should I include all the machine needles I have purchased for my sewing machine, thread and fasteners in the inventory? These are things I need to be able to do the alterations. Because this grew out of a hobby, I already had a small inventory to make things for myself. How can I best determine the value of this and keep track of it/list it so that it is clear and accurate?

Hi,

First and foremost, only trade goods that have been entered in the accounts can be part of your inventory. This means that if you already had these items and never entered them in your accounts as trade goods, you should not include them in your inventory.

However, in future, you will indeed have to record your thread and fasteners as trade goods and include them in your inventory at the end of each year. These are your raw materials.

Your needles seem to me to be materials that you use and therefore not trade goods.

Regards, Ad.

Thank you for this clarification!

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