the accountants for a company I book keep for has asked if the additions to equipment this year have replaced any old equipment so she can dispose of anything necessary.
i have supplied a list to the director asking the question and he has answered 'what is the most tax efficient answer?'
so my question is: is there a more tax efficient answer and why..?
Maybe be in looking at it wrong but surely disposing of items no longer in us and recording the new assets is the answer?
hope this makes sense!
thanks in advance
-- Edited by Beackyb on Thursday 13th of November 2014 08:48:16 PM
you start off the post by saying " the accountants for a company I book keep for" indicating that the company has an accountant.
Should the client then not be asking their accountant rather than their bookkeeper about tax efficiencies?
Personally I would go with that approach so that the client realises the demarcation between bookkeeping and accountancy.
If you did give any advice then you may end up with the accountant annoyed with you as it may have been different advice to what they would have given.
As for the director, you were only asking for a clarification in order to supply the raw data to the accountant. I would emphasise that to them and state that the accountant will help them ensure that disposals are handled in the most tax efficient manner.
kind regards,
Shaun.
P.S. welcome to the forum.
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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.
