The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Annual Investment Allowance
Post Info TOPIC: Annual Investment Allowance
Kinbuck


Senior Member

Status: Offline
Posts: 159
Date:
Annual Investment Allowance
Permalink Closed

Hi

Can you claim this allowance on sound recording equipment, instruments and software?



__________________

Janet

They keep making the system idiot proof but then make bigger and better idiots!
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

Yes, provided that they are used in the context of the business. (tools used for the intent of providing a return on investment).

The one amongst that list thats a little contentious is software which may be regarded as a consumable.

The general rule is that if the software is purchased not rented and expected to be in use for more than two years then its allowable.

Software that expires each year would be a consumable and would be expensed.

HTH,

Shaun.

__________________

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.
Cheshire


Master Book-keeper

Status: Offline
Posts: 8646
Date:
Permalink Closed

Shamus wrote:



The general rule is that if the software is purchased not rented and expected to be in use for more than two years then its allowable.

Software that expires each year would be a consumable and would be expensed.

HTH,

Shaun.

 Good point and totally agree, thats what I was always taught!



__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Kinbuck


Senior Member

Status: Offline
Posts: 159
Date:
Permalink Closed

Thanks Shaun (& Joanne) - and sorry for delay in replying. I've been having a few technical issues and for some reason when I reply from my phone it doesn't appear here :(

It's what I was taught also - I'm just getting going at the moment (life not gone to plan since I started in January!!) and I needed the peace of mind I was getting it right :)

Janet

__________________

Janet

They keep making the system idiot proof but then make bigger and better idiots!
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Annual Investment Allowance
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About