Reply to: Buying a new laptop

[Clare@InTouch]

i've just realised my company doesn't own my laptop.

I cannot find the transaction in any of my previous years accounts.

It was originally bought by a company that has since been closed.... and i took the laptop...


Should I bother "selling" my laptop to my company?

What to charge? It was originally about £600.... almost 3 years ago now...

Have a look on Ebay to see how much you'd get if you sold it privately - that's the value you should use if you decide to sell it to the company. My guess would be it won't be a huge amount!

[prozak]

i've just realised my company doesn't own my laptop.

I cannot find the transaction in any of my previous years accounts.

It was originally bought by a company that has since been closed.... and i took the laptop...


Should I bother "selling" my laptop to my company?

What to charge? It was originally about £600.... almost 3 years ago now...

[SueEllen]

No I meant that when I reply in this thread I see on the page:I wondered what it meant.

I have no idea. Probably something to do with Porn.

[d000hg]

Do you call all technical women you work with "shemales" because you can't cope with the fact that some women in IT do technical work?

No I meant that when I reply in this thread I see on the page:

Already pinged:

http://shemale.hqporn.us/

I wondered what it meant.

[prozak]

Thanks for the reply.

Puts my mind at ease.

Didn't think I was miles off the mark but I was recently reading some advice where someone was capitalising 150 quid furniture and claiming their capital allowances and I thought I might have got it wrong..... educated un aus you seei so we do.things upside down...lol

I'll revise my limit down to 750.

Thanks again.

[Clare@InTouch]

I thought 100% write off was only in year 1?

In aus you are able to write off anything under 1k as expense as a small business.....

I made a company choice to put any assets under £1k though expenses over here in the UK. Not sure I should have.......

Any thoughts on my position there.... Laptop was only £500 and it was in my first year of incorporation... I think I have just accounted for it incorrectly... but wont effect my tax....

For tax purposes you can write it off in full under the Annual Investment Allowance rules.

For accounting purposes you'll find different accountants have different views about what they write off and what they capitalise. It's subjective to a degree, but my general feeling is anything up to around £750 could be deemed to be a consumable and written off to the profit & loss account (technology costing that much depreciates so quickly these days). Your £500 laptop is therefore fine to write off in full in both the accounts and tax computation in my view.

Other accountants may have capitalised it which is why I said it may still show on your accounts. I've seen some capitalise £150

[prozak]

Your company can buy the laptop. The whole cost will reduce you profit in the year so you'll pay less tax - £750 will effectively mean a saving of £157.50 (which is 21% of the cost).

Note that the asset may remain on the balance sheet of your accounts, but for tax purposes it will be written off in full.

I thought 100% write off was only in year 1?

In aus you are able to write off anything under 1k as expense as a small business.....

I made a company choice to put any assets under £1k though expenses over here in the UK. Not sure I should have.......

Any thoughts on my position there.... Laptop was only £500 and it was in my first year of incorporation... I think I have just accounted for it incorrectly... but wont effect my tax....

[SueEllen]

If you do development work than a super-fast machine is worthwhile, and a slow one for testing as a real user.

Interesting to see people interested in CUDA here.

Depends what you are doing. I don't do CUDA work.

ps: is anyone else seeing the "shemale" thing?

Do you call all technical women you work with "shemales" because you can't cope with the fact that some women in IT do technical work?

[d000hg]

If you do development work than a super-fast machine is worthwhile, and a slow one for testing as a real user.

Interesting to see people interested in CUDA here.

ps: is anyone else seeing the "shemale" thing?

[SueEllen]

You are obviously not a techy and excited by hardware

I'm technical and no I don't get excited by buying expensive hardware as my roles don't require anything I develop to run on it.

In fact the cheaper the hardware it can run on often the better.

I need to get a new desktop and change the OP system completely on the old ones.

, it's ok I understand why you'd want to spend £2k, great tech and get the vat back.

Lots of posters don't need expensive hardware to do their work so telling them to buy the most expensive laptop to get some VAT back is a false economy.

[GillsMan]

Why?

If you don't need a £2000 laptop bundle then it makes no business sense to spend that much money on the laptop.

Yes, this. Tbh, I've got £1700 worth of PC that I got to build and play with and that's fine - couldn't justify spending MyCo's money on a £2K laptop at the moment.

@Scrag Meister: This laptop: Asus N53JF-SX168V Laptop - Laptops | Ebuyer.com Nothing special, but I nice little improvement which will run fast enough for me to be able to do some of my e-learning development and p/s work on the train if needed.

@Dhoog, er, yup lots of CUDA work. Not yet invoiced for any CUDA work, but the skills I'm getting through using this computer for that purpose will allow MyCo Ltd to invoice for such work in the future.

[Scrag Meister]

I hope they weren't a business purchase unless you are doing some crazy CUDA work?

Of course it was, they are using GPUs for maths intensive work in Investment banking these days.

[d000hg]

I am a computer geek. I almost salivated when I ordered to GTX 460 GPUs to run in SLI.

I hope they weren't a business purchase unless you are doing some crazy CUDA work?

[Scrag Meister]

Why?

If you don't need a £2000 laptop bundle then it makes no business sense to spend that much money on the laptop.

You are obviously not a techy and excited by hardware , it's ok I understand why you'd want to spend £2k, great tech and get the vat back.

:-)

My next shopping list is going to be in the region of 4k.

My 2 laptops that I bought 3.5 years ago totalled about 3.5k. 17.5% vat back, 21% CT saved.

If you're going to spend £1700 you may as well spend 2k and save the VAT as well.

Its an investment to help in the earning of 120k+ a year. A small %age IMHO.

I am a computer geek. I almost salivated when I ordered two GTX 460 GPUs to run in SLI.

That's 2 of us then. I recently bought a GTX 470, only the one though, when my 8800GTX died just outside warranty.

What model laptop did you go for in the end?

[SueEllen]

Get a laptop that's over £2000, then you can claim the VAT back

Why?

If you don't need a £2000 laptop bundle then it makes no business sense to spend that much money on the laptop.