Are these capital allowances?

kw899899

Hi i know that things like vans, cars, toolos etc are capital allowances but are these: ( i run a pet sitting business)

* baby gate
*new phone:p
*leads/ harnesses for dogs
*waterproof boots, clothing etc

or is it just more expensive items??


Also where do i record these in my general records. do i put them in with all the expenses or do i have a separate one for them ( they are not above the £50,000 threshold or even close.)

many thanks guys:p

fengirl_2

It is usual to treat items costing under £100 each as revenue, even though they would be capital if they cost more. The baby gate and phone would be capital if over £100 each, but the leads, harnesses and clothing would be revenue in my view as they have a restricted life and no second hand value. You record the gate and phone as office equipment, the leads and clothing as other equipment.

chappers

As fengirl says just count these low cost items as revenue and "write them off" 100% in the year of purchase.
You can count them as capital expense if you want but then would only be able to depricite them year on year at the approprite rate.
I do as fengirl says and treat things like tools under £100 as revenue.
Remember plant,fixtures and fittings and IT and communications equipment over £100 are still capital expenses but can be written off 100% under the AIA scheme, this includes commercial vehicles but not cars unless they are low emission.
Should you in the future sell any of these items then there would be abalancing charge to your capital allowances and these would be treated as taxable.