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Leaving a paye job can I offset the cost of new laptop against paye earnings
happenstance
Posts: 365 Forumite
in Cutting tax
I've left my paye job and will be starting a few projects that hopefully will make a profit, but not this tax year.
Can I offset the cost of buying a new laptop with the income tax I've already paid this year?
Can I offset the cost of buying a new laptop with the income tax I've already paid this year?
0
Comments
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happenstance wrote: »I've left my paye job and will be starting a few projects that hopefully will make a profit, but not this tax year.
Can I offset the cost of buying a new laptop with the income tax I've already paid this year?
Have you officially started your new business?0 -
You can claim the cost of the laptop in your first accounts which will be declared on your 2015/16 tax return. If the accounts show a loss you can set this loss against your PAYE earnings for this year.0
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