laptop as a tax expense
- Started
- Last post
- 8 Responses
- Ranger
I know I am a bit late filling this out...
I am trying to find info but can't - do you still need to claim 50% of a computer purchase on year and 50% the following? I can't find anything about it but had always been told this. HMRC site makes it look like you can claim it all as long as it doesn't add up to over 50K
Would the same be true for a chair used solely for work?
This is a UK tax question btw. Thanks.
- lukus_W0
From http://www.hmrc.gov.uk/helpsheet…
Annual Investment Allowance
You can claim a new capital allowance called an ‘Annual Investment Allowance’ (AIA) if you bought equipment (but not cars) on or after 6 April 2008 up to an annual amount of £50,000. This allowance has replaced the 50% and 40% first year allowances that were available on the cost of equipment in previous years to
small and medium sized businesses (see page 12). Add the cost of all the equipment together and, if the total cost is £50,000 or less, you can claim 100% of that whole amount as your AIA.
- Ranger0
Thanks for that, my brain is hurting after looking at so much of this stuff.
- boobs0
When are UK tax returns due? How much % tax do you have to pay?
- FredMcWoozy0
giving more money to your loving queen and government eh?
- Yes, fred (you fuckwit) the same system you're part of that pays for your country's war machine.detritus
- Actually, I say that - but you've probably never had a job, so never paid tax. Thank God for Mom's basement, eh?detritus
- How else will the education system, health service, public amenities and welfare state be paid for?lukus_W
- Ranger0
Due today. And it is for my first year freelancing after being fulltime for a stint so I have to cough up 18 months worth of tax. Rather that than find Pat Butcher's girlfriend in my closet though.
- When did you start working?lukus_W
- (ahh... 18 months ago)lukus_W
- Was freelance then fulltimed for a couple of years until May '08. So this is for Apr 08 - Apr 09Ranger
- Plus half of 09–10Ranger
- I have the same to look forward to at the end of the year.lukus_W
- The payments on account are a real kick in the balls when starting out!jamble
- ckentish0
payment on accounts - that got me as well... noone warned me about that when starting up.
- lukus_W0
what are payment on accounts?
- lukus_W0
Re: payments on account - have I got this right?
You make your first payment of 50% your bill at the end of january - then you make another 50% at the end of july ... and it's always based on your tax calculations form the previous year.
- Right I get it .. you effectively need to pay 150% tax in your first payment due to payment on account.lukus_W