Self Assessment Expenses

jambrose

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.

Andreg

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

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

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?