Self Storage - expense?

[Little'Old Me]

[QUOTE=Just1morethen;797729]

Yes you could - if you can prove that is your intention when you made the booking is to check out the latest technologies and it was "wholly, necessary and exclusively" for you business.
QUOTE]

Am I not right in saying that a business expenses need to be "necessary". This only applies to employment expenses.

If you are a sole trader you are correct. But if the expense is a expense of a Limited company then it often needs to be "necessary" because the decision is made by an employee. If you follow all three, you are less likely to have a problem, as some Ltd company expenditure is not allowable - because the expenditure is for "non trading" reasons, they are not allowable, as a trading expense because it is not "necessary" for trading purposes.....

[Alan @ BroomeAffinity]

[QUOTE=Little'Old Me;797942]

If you are a sole trader you are correct. But if the expense is a expense of a Limited company then it often needs to be "necessary" because the decision is made by an employee. If you follow all three, you are less likely to have a problem, as some Ltd company expenditure is not allowable - because the expenditure is for "non trading" reasons, they are not allowable, as a trading expense because it is not "necessary" for trading purposes.....

I disagree. A limited company is subject to the same rules as a sole trader or partnership. Bob Jones has covered this in another thread - "Are books tax deductible?" or something similar and I am inclined to agree with Bob's stance.