New laptop

[JRCT]

Maybe his personal laptop is four years old and he had no need to replace it.

That is exactly the case. My laptop cost about £600 four years ago. I certainly don't need to spend £2000 on a new one.

I probably did miss a trick in the beginning by not encorporating that into the business but I don't think it's significant, probably lost about £20 in tax.

[Old Greg]

So you can still sell it to the business.

I loaned my personal laptop to a shell company in the Dutch Antilles, who then loaned it to my Ltd for a monthly rental fee payable in Zimbabwean dollars.

[northernladuk]

That is exactly the case. My laptop cost about £600 four years ago. I certainly don't need to spend £2000 on a new one.

I probably did miss a trick in the beginning by not encorporating that into the business but I don't think it's significant, probably lost about £20 in tax.

It would be more than that as it means you can get more money out of the company that you don't have to pay tax on as well yadda yadda. Yeah it's not big stuff but there are loads of little things that make it worth doing. Better in your pocket than the tax mans.

[kal]

I loaned my personal laptop to a shell company in the Dutch Antilles, who then loaned it to my Ltd for a monthly rental fee payable in Zimbabwean dollars.

I take it you paid for it with the money loaned to you from your Isle Of Man based no risk EBT provider

[kal]

It would be more than that as it means you can get more money out of the company that you don't have to pay tax on as well yadda yadda. Yeah it's not big stuff but there are loads of little things that make it worth doing. Better in your pocket than the tax mans.

Indeed, sold mine to the LtdCo for 500 notes (which was the current market value of equivalent 2nd hand laptops selling on ebay at the time), I make that £100 saving just on the CT, it all adds up.

[Old Greg]

I take it you paid for it with the money loaned to you from your Isle Of Man based no risk EBT provider

The QC made me sign an NDA so it's all hush hush.

[northernladuk]

Indeed, sold mine to the LtdCo for 500 notes (which was the current market value of equivalent 2nd hand laptops selling on ebay at the time), I make that £100 saving just on the CT, it all adds up.

Plus not paying tax on extracting that £500 at some point in the future?

[kevpuk]

I figured MyCo needed a slim, lightweight laptop with i7 CPU, 16GB RAM, RAID SSDs, BluRay writer and GTX NVidia graphics to make sure it could cover every eventuality...never know what the next gig is going to need!

Actually, turns out current gig did require a relatively high spec laptop, although perhaps not all of the above

[kal]

Plus not paying tax on extracting that £500 at some point in the future?

Indeed

[JRCT]

Thanks for your help, everyone. It looks like I've missed a trick with my old laptop - I'll put that down to experience.

I shall be buying my new one through the company as I should have done with my dead one.