Claiming tax relief on the big things
All businesses can claim tax relief on business expenses. That can include items that you bought before the business started! Do you have a laptop, and any other IT kit? Is your office equipped with a desk, a chair and a book case? Here’s a typical list of things that you might be introducing. There may be things on this list that you should ignore, and there may be other special things (in your line of business) that we haven’t thought about.
All of these things are “the big things”, the sorts of things that will serve the business over a number of years, and not be used up all in one go. Use this list as a guide, and please compile your own. The descriptions under “model” and “serial number” should be sufficiently clear so that one Dell laptop can be distinguished from the next Dell laptop that you buy, if you see what we mean!
If you run a limited company you should avoid having a company car. Keep you car as a private asset. If you have a self employed trade and the car is a fundamental requirement, then include it in this list.
| * make * | * model * | * serialno* | * Date Acquired * | * total cost * |
| Car 1 | ||||
| Car 2 | ||||
| Desktop 1 | ||||
| Desktop 2 | ||||
| Printer 1 | ||||
| Printer 2 | ||||
| Laptop 1 | ||||
| Laptop 2 | ||||
| Fax machine | ||||
| Copier | ||||
| Shredder | ||||
| Scanner | ||||
| Air con | ||||
| Digital camera | ||||
| Video camera | ||||
| Desk 1 | ||||
| Chair 1 | ||||
| Filing cabinet 1 | ||||
| Book case 1 | ||||
| Desk 2 | ||||
| Chair 2 | ||||
| Filing cabinet 2 | ||||
| Book case 2 | ||||
| Other specialist equipment |
Once your list has been prepared, please let us have a copy.