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Post Info TOPIC: personalised number plates
lor


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personalised number plates
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Hi all, do any of you have the above, I am thinking about getting one.

 

Wondering if it actually helps business?.

 

another thing would it be classed as a business expense, as it will have words in it associated with my business, therefore could this put through as advertising?.



-- Edited by lor on Thursday 10th of May 2012 02:18:39 PM

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Shamus


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Hi Lorraine,

far cleverer people than myself have debated this one over on Aweb so maybe best to take a look at what they say in these links :

http://www.accountingweb.co.uk/anyanswers/cherished-number-plates/515729
http://www.accountingweb.co.uk/anyanswers/tax-treatment-cherished-car-number-plate
http://www.accountingweb.co.uk/anyanswers/private-number-plate-capital-allowances

And this from Taxweb :

http://www.taxationweb.co.uk/forum/personalised-number-plate-intangible-regime-t28810.html

And you will also find these from the HMRC site quite useful

http://www.hmrc.gov.uk/manuals/camanual/ca21250.htm
http://www.hmrc.gov.uk/manuals/cgmanual/cg76923.htm

HTH,

Shaun.





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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
lor


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thanks will have a read!


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MarkS


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Hi There

Dont have one but if it was me and I bought it for the business then I would capitalise and write off as appropriate.

At the end of the day it is advertising of the business (provide the number plate represents the business eg initials of the business).  But rather than being a period cost it is something to benefit the business over a period covering more than one accounting period and therefore why should be capitalised and written off at appropriate rate.

Regards

MarkS



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
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