Originally posted by northernladuk
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That has made it a lot clear, thanks. I have heard some time ago that computers are subject to a 3 year depreciation rule, and I still have my old 4-year old laptop I've expensed back in the day but now it's used for personal needs and I didn't sell it back to myself or anything like that.
Also yeah I understand that it would make more sense to expense it strictly at the time it became my work machine.
So if I bought it last November for £850, and I've started using it for work in February:
Say I expense it at the £750 valuation
Then half a year later I'm on a different assignment inside IR35, or I upgrade to a different laptop, and would like this one back for personal use.
I send £600 or so back to the company as income that's VAT-exempt (as otherwise I'll end up paying VAT twice and lose more than if I had not expensed it in the first place)?
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