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Equipment usage for business / leisure
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looknohands
Posts: 390 Forumite
How do you define business / leisure use of equipment when your business is your hobby.
Example,
My business is media production,
I borrow my businesses GoPro's and go on a leisure trip snowboarding for 2 weeks.
I create a film at the end of it showing our trip, using the businesses computers and production software.
I upload the video of the trip to my businesses Youtube channel and it generates a ton of traffic and leads for our media production company, resulting in clients buying our service.
So it's a marketing piece for our business.
The intent, If I didn't have the business I would have gone on the holiday anyway, i would own a go-pro and also would've edited it for fun at the end of the trip and it would've likely drawn as much interest as it wouldn't have been produced any differently, the end product, editing etc is a hobby turned business.
Where is the line here, could I have funded the entire trip through the business?
Or is what I'm doing borrowing the cameras and gear a bit of a no-no?
Example,
My business is media production,
I borrow my businesses GoPro's and go on a leisure trip snowboarding for 2 weeks.
I create a film at the end of it showing our trip, using the businesses computers and production software.
I upload the video of the trip to my businesses Youtube channel and it generates a ton of traffic and leads for our media production company, resulting in clients buying our service.
So it's a marketing piece for our business.
The intent, If I didn't have the business I would have gone on the holiday anyway, i would own a go-pro and also would've edited it for fun at the end of the trip and it would've likely drawn as much interest as it wouldn't have been produced any differently, the end product, editing etc is a hobby turned business.
Where is the line here, could I have funded the entire trip through the business?
Or is what I'm doing borrowing the cameras and gear a bit of a no-no?
0
Comments
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Is your business a sole trader or a limited company. It makes a massive difference.0
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Limited Company which owns all the equipment.0
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