I did this (not the Enron thing, the buying a laptop before the company started thing). I even reclaimed the VAT.
It was about 2 months beforehand, but the accountant said it was fine to do this (as long as for business purposes etc.).
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Previously on "Claiming laptop bought before started company"
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Amateurs! In true Enron and Lehman Brothers style your laptop becomes an asset off your Cayman Island company that pays only £500 per year fixed tax. Your Cayman Island company leases the laptop to your UK company together with training at a rate of £1500 per month. You then withdraw the cash from the Cayman Islands via a numbered ATM account.
By the way Lehman Bros sent every penny off shore on a daily basis, when the auditors arrived the only cash left was in a separate account put aside for bonuses. Not even a slap on the wrist.
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Originally posted by Clippy View PostI believe that if you purchase the laptop within 6 months of setting up your company, you can claim the full amount.
If you setup your company after 6 months of purchasing the laptop then you can only reclaim the market value of the laptop.
As ever, I am not qualified to give this advice so would suggest you ask an accountant.
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I believe that if you purchase the laptop within 6 months of setting up your company, you can claim the full amount.
If you setup your company after 6 months of purchasing the laptop then you can only reclaim the market value of the laptop.
As ever, I am not qualified to give this advice so would suggest you ask an accountant.
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Hi Meh! (Love the username...!)
As I understand it yourCo can buy the laptop from you personally at any time, it doesnt really matter so long as there is an audit trail & a legal "sale" happening there. I'm not sure about the premature purchasing for company but you can certainly buy it personally & then make a sale to yourCo when it's running
Now, there may be some better versed people that I around who say different & I will bow to their knowledge, but that's my understanding of it.
Just promise me you won't get an Acer...please!!
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Claiming laptop bought before started company
Hi guys,
Hope everyone's having a great christmas!
I'm going to go limited when I get my next contract (hopefully 2nd week of january...but might fall through)
ANYWAY... I'm in need of a new laptop, and I want to buy it soon, I remember reading on here before that myLTD could buy the laptop off of me, or claim it as an expense. but how long is that for?
I.e if i buy the laptop now...and then go LTD in march, can I still put the laptop through the company to right it off against profits?? is there a time limit?
Thanks!!Tags: None
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