Couple basic accounting questions please

jasper2004

My gardening business start date was 06th June 2012, however i was purchasing tools, printing, stationary etc from an earlier date of 14th April 2012. Can i claim against this stuff ?, if so, do i date it when i purchased them IN April or should the date be at business start up date ??

Secondly - I have a lawn mower that i bought 3 years ago for £750.00 and a Van i bought for £1250 a couple of years ago. I want to transfer to business at values of £400.00 and £800.00 respectively, Does this sound reasonable and do i just add to the business assets from start up date ??

Thirdly - do i log NI payments anywhere in the accounts ??

Any help would be appreciated

WestonDave

You can claim for pre start expenses - the date isn't that important - I'd personally record them at their real dates but include them within the first year.

Yes the assets can be transferred in - technically the double entry would be to add them as assets at the stated values and the other end would be capital introduced both totalling £1200. You can then take them forward on capital allowances from that point. Provided you keep a record of the rationale in case HMRC ask about it, and you've given them reasonable values then it should be fine.

jasper2004

thankyou Dave :beer: