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SelfAssement Laptop purchase
donfanatico
Posts: 456 Forumite
Quick question , thank in advance for the answers!
Sole Trader, Cash Basis accounting, not VAT registered as under threshold.
A laptop purchase, which box does it go into for tax return? Would entering be without VAT and then VAT claimed elsewhere or the whole amount?
Also I assume no depreciation taken into account as it is going in to AIA?
Thank you!!!:beer:
Sole Trader, Cash Basis accounting, not VAT registered as under threshold.
A laptop purchase, which box does it go into for tax return? Would entering be without VAT and then VAT claimed elsewhere or the whole amount?
Also I assume no depreciation taken into account as it is going in to AIA?
Thank you!!!:beer:
0
Comments
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I believe if you're on cash basis you do not need to claim capital allowances, you just treat it like any other expense.
https://www.gov.uk/simpler-income-tax-cash-basis/income-and-expenses-under-cash-basis
Also the cost would be including VAT.0
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