Corporation Tax and Fixed Assets

[Jeremiah@RHJAccountants]

I'd also agree with what captainham said. We get clients to expense items below £500, often below £1k too...though as mentioned by other posters doing so wouldn't reduce your tax liability. It's more just keeping things simple, avoiding tracking the net book value over several years of piddly things like a £4.95 mouse.

HMRC don't care anymore as (ignoring some niche circumstances) the tax liability won't change regardless of whether you capitalise it or not due to AIA.

I agree and this is the advice i give my clients.

Depreciating a £4.95 mouse of several years would be pointless but i have seen it in some accounts in the past

I would ask your accountant if you are unsure on the figures and i am sure he or she will be able to let you know

[Scrag Meister]

Thanks for this thread.

Just noticed I had used a previous years spreadsheet as a template and forecast CT at 21% instead of 20%, I accrued £300+ CT too much a couple of months back and forecast for the new tax year (Apr 2013) also saved me some more.

Spreadsheet now correct.

Cheers.