FWIW, yes I could capitalise the phone but what usually happens is that I upgrade, the company secretary (wife) gets the old phone and it depreciates in the books to zero. It just seems easier to treat it as an expense rather than having to write it off the company books.
Obviously if you sell it, then that's just company income. Charge VAT as normal if applicable and if you originally bought it outside the FRS (ie part of single purchase over £2k) and reclaimed the input VAT, the sale should also be dealt without outside the FRS.
Or you could just "scrap it"
Obviously if you sell it, then that's just company income. Charge VAT as normal if applicable and if you originally bought it outside the FRS (ie part of single purchase over £2k) and reclaimed the input VAT, the sale should also be dealt without outside the FRS.
Or you could just "scrap it"
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