I'm currently filling out my tax return and was curious how I should declare a few things. I work as a software developer via contracting, but also produce virtual game assets that are sold on several marketplaces. I've used a lot of money earned from my contracting to purchase Sample libraries and a professional digital audio workstation. Just to clarify on what a sample library is in case someone is unaware. They are typically a collection of recorded samples of instruments with software that allows you to trigger and affect those sounds with in a digital audio workstation. In my case, a lot of them are string libraries (E.g. Spitfire's BBC symphony orchestra). I use these sample libraries to produce music that is then sold on marketplaces for game developers to use on their projects. To my knowledge, all of my sample libraries are essentially a lifetime licence to use the software to produce music with and distribute.
What I'm unsure about is how to declare this in my tax return. Is it classified as a business expense, or should it be declared under Annual investment allowance?
