Your company is kitting out its directors with new computers for their home offices. As inevitably there’ll be some private use of the equipment, how might this affect the tax position of the company
and the director?
Published 03.04.2024
Within limits, businesses are entitled to tax relief on equipment for the financial year in which they purchase it. However, purchases through HP and similar contracts are exceptions to this rule.
How can you ensure the earliest tax relief for these?
Published 27.06.2023
If you borrow money to pay for equipment you use for your job, you may be entitled to a tax deduction for the interest you pay, but it depends on the type of borrowing. Is there a more tax and
NI-efficient way to make the purchase?
Published 16.12.2021
As the director shareholder of a company you can choose to personally buy equipment for your business or do it through your company. The tax consequences of each differ. What’s the best option for
you?
Published 13.10.2017
If you use personally owned equipment for your job you may be entitled to a capital allowances tax deduction. It’s only allowed if the equipment is “necessary” for your job, but who decides what’s
necessary and what’s not?
Published 14.11.2022
When you buy equipment for your business you may incur additional costs such as delivery fees. While you can claim capital allowances for the equipment what about the additional expenditure?
Published 16.10.2019
One of our subscribers is being threatened with extra tax and penalties for claiming capital allowances (CAs) for the VAT he paid on the purchase of equipment. Is HMRC right to say the qualifying
cost must be exclusive of VAT?
Published 20.02.2024
Special rules exist for tax deductions for the cost of equipment used in property rental businesses. Anecdotal evidence suggests that landlords are missing out on these. What tax allowances are
available to you?
Published 01.05.2019
The annual investment allowance (AIA) allows you a tax deduction for the cost of equipment for the financial year in which it’s bought. But it doesn’t always apply, meaning tax relief takes decades.
How can you slash this timeframe?
Published 30.11.2022
When you buy a business premises you can decide with the seller how much of the price relates to fixtures and equipment which tax deductions can be claimed for. But how can you be sure you’re
claiming all you’re entitled to?
Published 09.03.2010