Originally posted by Michael at BI Accountancy
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
How to claim cost of laptop on HMRC online corporation tax return/accounts submission
Collapse
X
-
-
Originally posted by northernladuk View PostAnd that's what I thought. Not the advise bit of course, but oddly enough both accountants moved sub £500 purchases to assets in the two cases I can remember."You’re just a bad memory who doesn’t know when to go away" JRComment
-
£1k is the cutoff for me as far as assets goes. So things like phones and tablets go to the profit and loss as expenses but laptops would always be assets for me.Comment
-
Originally posted by TheCyclingProgrammer View Post£1k is the cutoff for me as far as assets goes. So things like phones and tablets go to the profit and loss as expenses but laptops would always be assets for me.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
-
Originally posted by TheCyclingProgrammer View PostAnd add back the depreciation when calculating taxable profits!
The 'asset or expense' query is one that needs to be looked at in comparison to the size of the business. Firstly you need to decide whether or not it is material, also the lifetime expectancy of the item and if applicable you need to be consistent in your approach (i.e. if you have purchased something similar in the post and capitalised it then the same approach should be followed).Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment