Self Assessment Expenses

jambrose
jambrose Forumite Posts: 2
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Hi,
I am PAYE, but additionally do some work on the side, for which I now need to do a self assessment. Part of this obviously is I have to provide expenses.
I bought a laptop for work which I have on 0% finance over 2 years. 
On the expenses do I state the full price or the cost I have spent in that tax year?
Thanks.

Comments

  • Andreg
    Andreg Forumite Posts: 129
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    The government website states: "In most cases you can claim tax relief on the full cost of substantial equipment, for example a computer, you have to buy to do your work. This is because it qualifies for a type of capital allowance called annual investment allowance."

    Claim tax relief for your job expenses: Buying other equipment - GOV.UK (www.gov.uk)

  • DullGreyGuy
    DullGreyGuy Forumite Posts: 6,175
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    jambrose said:
    Hi,
    I am PAYE, but additionally do some work on the side, for which I now need to do a self assessment. Part of this obviously is I have to provide expenses.
    I bought a laptop for work which I have on 0% finance over 2 years. 
    On the expenses do I state the full price or the cost I have spent in that tax year?
    Thanks.

    You need to be clearer... was the laptop bought for your employee work or self employed work? Is the laptop 100% only ever going to be used for that or will you more honestly use it for personal/non-work stuff too?
  • NannaH
    NannaH Forumite Posts: 570
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    edited 21 July at 10:32AM
    Technically you need to only claim the percentage used for self employment,  so say 75% SE and 25% personal. 
    If you do your SE at home then you can claim a pro rata amount too towards your utility bills,  20% for example, depending on how many rooms you have, although if you are out at work all day, that might not fly 😉
    You could also claim if you have a separate phone/contract for running your business,  plus the cost of stationery/printer ink etc.  
    I would put down only the amount you’ve spent in the tax year, percentage wise, on your laptop finance.
    Are you going to use Cash basis accounting?  
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