My client is having a burglar alarm installed. He runs his business from home so the alarm is on his house. He is only installing it as he has sensitive confidential documents there and needs to protect them. How would I account for it? Fixed asset? 100% business use? Or as it's on his house is it not allowable? Thanks.
is it wholly, necessarily and exclusively for the purpose of the business.
I can't see it as it is not exclusively for the purpose of business premises.
Personally for a burglar alarm on the principle residence I would say that it is not an allowable expense of the business although others may disagree with that.
I look forwards to reading others reasoning's behind them considering it an allowable expense or possibly allowing part of the expense to be claimed based on floorspace perhaps?
kind regards,
Shaun.
p.s. right, just off to do my janitor duties with those other two posts...
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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.
The accountants playing the odds that it won't be picked up in an investigation at which time it would be disallowed for duality of purpose.
If no investigation happens in the next six years then the client wins a subsidised alarm system.
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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.
You did the right thing to question it whether or not it led to anything.
Clients only hear what they want to hear and that the accountant concurred with what they want makes the accountant correct and you wrong. (Client logic).
Clients eh, who needs em... Oh, wait!
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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.
