2nd hand laptop

[bigmaz]

Hi guys. I am going to be buying a laptop through my company. There is a 2nd hand laptop for sale on a forum I am a member of. Will there be any issues with buying this through my company?

[Andrew@Wisteria]

No problem at all. 2nd hand value goes into the accounts as an asset.

[jamesbrown]

No problem at all. 2nd hand value goes into the accounts as an asset.

Or an expense if it's fairly cheap.

[stek]

This guy might be selling soon...

http://forums.contractoruk.com/busin...top-audit.html

[Andrew@Wisteria]

Or an expense if it's fairly cheap.

Fair point - if low enough in value I'd agree!

[Maslins]

Only thing I'd add is re VAT. If your company's registered for VAT and NOT on the flat rate scheme it could be relevant. If you're buying second hand, and assuming it's just from "Joe Bloggs" rather than a VAT registered business seller, then be aware there's unlikely to be any VAT to reclaim.

[Forbes Young]

Hi guys. I am going to be buying a laptop through my company. There is a 2nd hand laptop for sale on a forum I am a member of. Will there be any issues with buying this through my company?

Like the other guys say, no problem - but ensure your company has a purchase receipt document to back up the purchase.

Graeme Bennett ACMA MBA

[ItRYmyBEst]

Only thing I'd add is re VAT. If your company's registered for VAT and NOT on the flat rate scheme it could be relevant. If you're buying second hand, and assuming it's just from "Joe Bloggs" rather than a VAT registered business seller, then be aware there's unlikely to be any VAT to reclaim.

What does flat rate have to do with it?
I also have a question regarding this:
https://www.gov.uk/vat-private-use-a...services#gstpu
If I buy it for the business I will use it for personal use(not essential but why not if I have the laptop), do I have to charge myself VAT?

[SueEllen]

What does flat rate have to do with it?
I also have a question regarding this:
https://www.gov.uk/vat-private-use-a...services#gstpu
If I buy it for the business I will use it for personal use(not essential but why not if I have the laptop), do I have to charge myself VAT?

Instead of asking every silly question you can think of:
1. Read the relevant guides either over there --> , on the IPSE site, on SJD Accountancy site and through HMRC
2. Do a search on this forum using the search box or through google e.g. site: forums.contractor.uk second hand laptop
3. Speak to your accountant

Then and only then post a question.