Originally posted by 2BIT
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Previously on "If I switch from an Umbrella to a LTD mid tax year can I claim on office furniture?"
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Originally posted by LisaContractorUmbrella View PostNot exactly - it's the fact that you said that you wanted to process them as expenses - they wouldn't be, they would be a cost to the company. Sorry not to make that clear
so say I went LTD next week, my revenue would only be from next week until the end of the tax year and because I didn't buy the items during that period I won't be able to deduct them as costs?
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Originally posted by 2BIT View Postah ok so the invoices have been paid for the period which I bought the office equipment so therefore wouldn't contribute to my revenue for that period.
cheers
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Originally posted by LisaContractorUmbrella View PostThings like office furniture and office equipment would not be classified as expenses through a Limited Company; they would be considered a cost to the business. The profit for your business, upon which corporation tax is payable is determined by calculating your revenue for the period (i.e. the total value of the invoices that you have raised) less the costs or overheads of your business
cheers
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Originally posted by 2BIT View PostHi All,
Working under a brolly at the mo that doesn't allow you to claim on things like computer hardware, office equipment etc. If I changed to a LTD within the tax year could I claim for them under the LTD given that they are valid business expenses under a LTD?
Cheers
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If I switch from an Umbrella to a LTD mid tax year can I claim on office furniture?
Hi All,
Working under a brolly at the mo that doesn't allow you to claim on things like computer hardware, office equipment etc. If I changed to a LTD within the tax year could I claim for them under the LTD given that they are valid business expenses under a LTD?
CheersTags: None
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