Buying IT equipment (laptop and a powerful server) using my personal credit card

[northernladuk]

NLUK

You also save the VAT when it's over £2k so the laptop effectively costs £1,333 so a saving of £667 (33.3%) when isn't too shabby in my book. You save even more if you take into account the high rate tax you possibly haven't had to pay on this money but that's a 50/50 argument at best.

If you were looking to buy a laptop at around £1,666 then you are no worst off spending £2,000 but should get a better spec machine.

Agreed though, a lot of new contractor's do get confused thinking expenses are free from their company, or that somehow HMRC reimburse them for all the expenses they incur which is a costly mistake to make!

Martin
Contratax Ltd

Doh, thanks for pointing out my omission for a second time. That's me told and you are totally correct. My point was more the spend more because it is on the company isn't always the right move. Have seen enough guys on here and in the office that go for the top end stuff just because it is through the company and forget where the money ultimately comes from. That was the point I was trying to make. Will be a bit more careful in future

[ContrataxLtd]

Doh, thanks for pointing out my omission for a second time. That's me told and you are totally correct. My point was more the spend more because it is on the company isn't always the right move. Have seen enough guys on here and in the office that go for the top end stuff just because it is through the company and forget where the money ultimately comes from. That was the point I was trying to make. Will be a bit more careful in future

I've seen that happen too many times for my liking, the worst case being that the client actually over spent so much that they were forced into an IVA. Slightly different because it wasn't a contractor client and they were employing around 10 staff but they just couldn't see how their spending habits were effectively coming out of their own money despite the numerous meeting each month telling them to stop spending!

[d000hg]

Really appreciate your help

I am hoping to buy Lenovo W540 with 32GB and 512 SSD with i7 4900MQ quad CPU. Unfortunately for sharepoint 2013 this is the minimum spec

It might say that on the tin but for local dev testing I find this very hard to believe.

[Martin at NixonWilliams]

I've seen that happen too many times for my liking, the worst case being that the client actually over spent so much that they were forced into an IVA. Slightly different because it wasn't a contractor client and they were employing around 10 staff but they just couldn't see how their spending habits were effectively coming out of their own money despite the numerous meeting each month telling them to stop spending!

You can't have done a very good job of explaining it to the client, despite a monthly opportunity to do so!

[ContrataxLtd]

You can't have done a very good job of explaining it to the client, despite a monthly opportunity to do so!

Couldn't have been much clearer to be honest, told them in plain English that if they kept spending at the rate they were going at they will be forced to IVA/Bankruptcy within 6 months, then 5 months, 4 months........ They had a burn rate of about £12k per month and just couldn't get this in to their heads (or didn't want to and just buried their heads in the sand)!

Needless to say, as predicted, the IVA process started when projected.

A good lesson can be gleaned from this for all new contractors, don't spend it unless you need to, it's not free and it is your money you are spending (just with a bit of a discount). Save it for the warchest instead!

[northernladuk]

You can't have done a very good job of explaining it to the client, despite a monthly opportunity to do so!

Come on ContraxLtd. Man up! You can't take that one lying down!!! 'Avin 'im my son!

[stek]

You can't have done a very good job of explaining it to the client, despite a monthly opportunity to do so!

Accountant's War!

Fight, fight, fight!!

Who's Chartered and who's merely Certified?

[ContrataxLtd]

Come on ContraxLtd. Man up! You can't take that one lying down!!! 'Avin 'im my son!

There's only one way to sort this........

[Martin at NixonWilliams]

Sorry to disappoint you all, but I'm too busy preventing our clients from entering into IVA's!

[stek]

Sorry to disappoint you all, but I'm too busy preventing our clients from entering into IVA's!

THWACK!!!