Cheaky Expense

[sumez]

Hello all,
would it be cheaky if I put through a new sofa as an expense?

I'll be looking to move into my house next year and would be looking to put through all my office furniture through the expenses and was thinking if I could probably get a sofa for the living room

Also, I purchased a laptop before I set up my limited company and wanted to know whether I can claim the money back?


Nav

[pickle]

laptop - you can sell it the company for its current 2nd hand value if you like. Stick a few examples from ebay in with the claim to justify your valuation.

sofa - dont be so feckin' daft.

[Chugnut]

If you get a visit from HMRC can you show them your spangly sofa in your vast company office?

No. So stop attempting fraudulent expenses claims, Fagin.

[ASB]

Hello all,
would it be cheaky if I put through a new sofa as an expense?

I'll be looking to move into my house next year and would be looking to put through all my office furniture through the expenses and was thinking if I could probably get a sofa for the living room

Also, I purchased a laptop before I set up my limited company and wanted to know whether I can claim the money back?


Nav

There is absolutely no problem with your company buying a sofa and putting it in your living room.

It might be wise for you to look at the tax treatment of assets placed at employees use though.

Your accountant will tell you the basis on which the compnay can acquire the laptop. It depends how long before commencement of business it was acquired and why.

[DaveB]

You can claim for anything as long as the expense was wholely and solely incurred as a result of your business activities and you can demonstrate this to HMRC when they ask.

Laptop, maybe, if it was bought as part of the setup of the Ltd Co and is used in connection with the Co. business.

Sofa, try it if you like but dont be surprised if you get a heft tax bill as a result and spend the next few years picking tax inspectors out of your arse.

[Burdock]

I am a newbie contractor, and one thing people keep asking me in restaurants/pubs is, "why don't you put it down as business expenses" (whilst sniggering).

I reply that my accountant has made it perfectly clear that business entertainment is totally out of the question as an expense. Well, I don't say those words exactly, but you get the gist.

I was wondering why so many people (especially people older than me) keep trying it on? Did 'business entertainment' used to be an allowable expense? If so, I can see why it was soon clamped down on!

[Barriebazg]

Cheeky

[Ardesco]

I am a newbie contractor, and one thing people keep asking me in restaurants/pubs is, "why don't you put it down as business expenses" (whilst sniggering).

I reply that my accountant has made it perfectly clear that business entertainment is totally out of the question as an expense. Well, I don't say those words exactly, but you get the gist.

I was wondering why so many people (especially people older than me) keep trying it on? Did 'business entertainment' used to be an allowable expense? If so, I can see why it was soon clamped down on!

Well I make sure I go out for an AGM every year, and then you have your crimbo party allowance (that can be used aty any point in the year)

[ASB]

Foreign entertainment is generally chargeable.

[Cooperinliverp00l]

There is only me and my partner (company sec) in my ltd company. Can i still have AGM and christmas parties ? is there a certain amount allowed for xmas bash ?