I (my company) wants to buy a new TV, I mean LCD

[Pickle2]

Just buy it with your own cash and then stick in 40 taxi reciepts (download em blank off the web) as expenses to make back the cash. If the tax man asks, tell him you hurt your leg skiing and it was the only way to get to client site. Sorted.

[dude69]

I've actually been contracting for 5 years, so I guess that immediately puts me in the category of "should know better".

I think I've asked a perfectly valid question, as I know a few people who have done exactly this, bought themselves a TV with Company funds, but I thought to myself .

that's because they're crooks. Have you got no clue what a business expense is???? You run a business, your business does not need a TV.

After reading some of the replies to not only this post, but to some other posts on here, I now know why I barely post on here and rarely visit - because some of you come across as most rude, obnoxious, elitist individuals.

That's because we're better than you.

Surely we all have a common goal - to maximise expenses and take home pay. It wouldn't help to be nice to each other, newbies or old timers.

So why not put your hookers through the books as well?

[tay]

Kookachoo - Nice speech, but there is not getting around the fact that your question is ludicrous, and I think you know that you are simply asking for validation for tax evasion... or fraud. seems like you are looking for more people who have done it so you feel better about it yourself, when in reality you now tis the wrong thing to do, and if you dont, then you are an idiot.

The test is really this... when you get inverstigated .. do you think the tax man will believe you?

[kookachoo]

Kookachoo - Nice speech,

Thanks

seems like you are looking for more people who have done it so you feel better about it yourself, when in reality you now tis the wrong thing to do, and if you dont, then you are an idiot.

Absolutely, spot on!

The test is really this... when you get inverstigated .. do you think the tax man will believe you?

I would however give it a good argue!

I do like the previous idea however about taxi receipts!

[youwhut]

yeah, like your style Pickle2.

[Ardesco]

I've actually been contracting for 5 years, so I guess that immediately puts me in the category of "should know better".

I think I've asked a perfectly valid question, as I know a few people who have done exactly this, bought themselves a TV with Company funds, but I thought to myself - I'll gague what this lot think about it on here, and see if anyone I don't know has done it.

As said before yes you can put it through as an expense if you want to, you can quite happily put expenses for hookers and charlie through your LTD co as well, but when the tax man comes along and asks you to proove that that you had to spend money on hookers and charlie to run your business what are you going to say?

After reading some of the replies to not only this post, but to some other posts on here, I now know why I barely post on here and rarely visit - because some of you come across as most rude, obnoxious, elitist individuals.

There have been quite a few threads asking silly questions about expenses recently, now you don't see this question as silly... Fine ask yourself how you will justify your purchase to the taxman, now ask yourself if he will belive you. Now ask yourself how much it will cost you if he makes you pay tax on it as a BIK and then fines you. Now ask yourself if you want to risk being prosecuted and put in jail when he doesn't like your reasoning.

Can you honestly say you are going to use this new "LCD screen" exclusively for business purposes? Can you show that it is used in your office 99% of the time?

Now tell me again, was it a stupid question?

Surely we all have a common goal - to maximise expenses and take home pay. It wouldn't help to be nice to each other, newbies or old timers.

And before I am slated for being a happy-clapping hippy wanting to spread peace and love, you couldn't be further from the truth. But what I do believe in is information sharing, and being polite and explaining why if people get things wrong.

We are quite happy to help each other, we could have said go on buy one, it will be fine mate. Don't worry about a thing. That wouldn't have been particulary helpful though would it?

You may not like the answers you have been given but they are helpful because they tell you the truth, they may not all be sweetness and light, but that is probably because if you bother to search the forums you would find a few other threads like this where the same answers have been given time and again.

[hugebrain]

that's because they're crooks. Have you got no clue what a business expense is???? You run a business, your business does not need a TV.

Then how come there's TVs all over the trading floor and a great big one in reception? Surely any business needs a TV just to keep up-to-date with all the tax increases?

[tay]

Then how come there's TVs all over the trading floor and a great big one in reception? Surely any business needs a TV just to keep up-to-date with all the tax increases?

You answered your own question.

[Peter Loew]

Just buy it with your own cash and then stick in 40 taxi reciepts (download em blank off the web) as expenses to make back the cash. If the tax man asks, tell him you hurt your leg skiing and it was the only way to get to client site. Sorted.

Now where does one get taxi receipts from?

[NotAllThere]

...
Surely we all have a common goal - to maximise expenses and take home pay...

Legitimately maximise

And no, not really. My goal is to make sufficient money to fund my lifestyle.