Laptop on Finance via Ltd

[cmscotland]

The point you take ownership and use the laptop it would be recorded as an asset at full cost.

On the FRS you could reclaim the VAT if over 2k.

The finance element is then dealt with as a separate transaction within the accounts depending on how long the payments take will determine how it is shown in the accounts.

For example how much is due within 12 months and how much after 12 months.

Thanks Kenny, that's good to know, and is roughly how I thought it should work!

[Kenny@MyAccountantFriend]

The point you take ownership and use the laptop it would be recorded as an asset at full cost.

On the FRS you could reclaim the VAT if over 2k.

The finance element is then dealt with as a separate transaction within the accounts depending on how long the payments take will determine how it is shown in the accounts.

For example how much is due within 12 months and how much after 12 months.

[cmscotland]

I've been looking at a Macbook Pro to replace my creaking company laptop and I've been looking at a Macbook Pro 15" which is roughly £2000... and been looking into Apples 0% finance deals which they offer businesses however I was wondering how this would be treated in my accounts? I assume that if it was over £2k I would be able to claim the VAT as per the Flat Rate VAT rules despite me not paying a "lump sum" for the equipment but paying it off over a period?

I have emailed my accountant but I thought someone on here might know quicker!

Thanks