Self-employed and buying a laptop

David333

I have recently registered as self-employed with my sole income coming from some lectures and some editing. I therefore need a laptop to do my job. My old laptop is dying though (some keys don't work). I am looking at the Dell Outlet and it lists prices inclusive and exclusive of VAT. Am I right in assuming that I basically have to pay VAT regardless?

p00hsticks

Yes, unless you are VAT registered (which means that you'll have to charge VAT for your services) you'll have to pay the VAT on your business purchases. 

Peter999_2

Yes, unless you are VAT registered.

David333

Thank you. I'm not going to be earning enough this year to pay tax, so I assume that I'm not going to be able to save money on a laptop in any way

Dazed_and_C0nfused

David333 said:

Thank you. I'm not going to be earning enough this year to pay tax, so I assume that I'm not going to be able to save money on a laptop in any way

Have you taken into account any earnings from prior to becoming self employed?

Jeremy535897

If you have insufficient taxable income in this tax year, can you delay buying the computer until next tax year?

Confusedlad

My thoughts exactly. Postpone purchase until 6 April 2024, then offset cost of laptop against earnings for 24/25 (reducing business 'profit') - hence any tax (& NI) due. Only c6 weeks to wait....

David333

Thanks all!

DullGreyGuy

Everyone has to pay VAT for things bought in the UK from a VAT registered business, just if you are a VAT registered business you can offset the VAT you pay against the VAT you have collected on sales. 

Presumably the laptop will be a blend of personal and business use given your prior one predates your business? You can only claim for the proportion that is business