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Post Info TOPIC: Capital Allowances
Vicki Newman


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Capital Allowances
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Hello,

I'm looking after the books and self assessment for a new client. He has started to buy a few assets (not large amounts, less than £1000). Do you think it would be wise to start a pool for capital allowance or just deduct the whole amount as an allowable expense in this year?

Your opinions will be very useful.

Thanks Vicki

 



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Shamus


Forum Moderator & Expert

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If your looking at £1000 then unless your client is quite large its time to capitalise.

You will find that for tax purposes many things will be fully covered by the AIA.

My general rulle of thumb now is to expense anything less than £100, make a judgement call on things between £100 and £300 and the capitalise everything above that.

kind regards,

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.
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