RE: FN-FORUM: Self-assessment and tax return: where do you list pc/laptop purchases?

date posted 26th April 2008 08:00

Duncan Glendinning wrote:
> ..
> Am self employed and filing my self assessment tax return for the
> first year myself, online. I know that purchases of equipment=20
> such as laptops or computers, above a certain value, don't just=20
> go under expenses and instead are claimed year on year with a=20
> depreciation of their value.
> ..

Anthony Cartmell wrote:
> ..
> If your turnover is less than =A315,000 it all gets mashed into the=20
> "quick return" expenses & allowances box. Otherwise capital=20
> allowances.
> ..

Agreed up to this point. IANAA, but having completed my own return in
previous years with turnover of less than =A315k (the early days!), I =
believe
this does not exempt you from the Capital Allowance calculations. Yes, =
you
only enter the end figures in the CA boxes (don't need to show =
breakdown),
but AIUI, CA figures are not "mashed into" the expenses box - they are
separate sections.

Of course, not impossible that I had this wrong and was completing the =
CA
section unnecessarily! An accountant can advise further. I recommend =
Dean
Shepherd's no-obligation online HelpDesk service (we now use Dean as our =
Ltd
accountant as a result of his helpful advice):

http://mmi-online.co.uk/Help/index.htm

This is probably a fairly moot point though, as a) Duncan is presumably =
on
=A315k+ (so needs to provide detailed figures), and b) as Alex points =
out, the
rules have changed for returns since April 08, meaning annual capital
expenditure up to =A350k can be included as regular instant relief =
expenses.

Cheers, Ben

--
Ben Johnson, Neogic Web Solutions
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