Hi,

I am aware that I need to keep records of any barter deals, in my case services for services, or services for products.

What I need to know is how do I record them? Just keep a spreadsheet of the amounts? Do I need to invoice for a barter deal, and what information about the deal do I need to record?

Also, are barter deals affected in anyway by tax or considered part of the turnover? I am a soletrader if that makes any difference.

Thanks for the advice in advance,

Matt
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There was a long thread about this a few weeks ago, but I dont think it used the word barter - more like exchange or swapping.

There was a difference of opinion across the board, so it will be worth reading. I dont have the link to hand, but it shouldnt be too difficult to find.
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just tried a search for exchange and swapping but didnt yield any results?

sorry to be a bother, but if anyone knows where the thread is that would be much appreciated?
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I think this is the thread fathippy was referring to - http://www.ukbusinessforums.co.uk/forums/showthread.php?t=79054

David Toohey
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So basically if I recieve services from someone in exchange for my services, I need to record whatever my services were as if they'd been paid, and therefore I have to pay tax on them?
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