Trying to do Mrs Flap_jack’s tax return.

Simple question.

She’s self employed and bought a computer. Can she claim 100% capital allowance this year ? She doesn’t earn that much and it’s 5% of her earnings so makes quite a difference. She’s doing web-site design so it is a business essential.

Thanks

Firstly I’m no export but I have done a fair bit of reading up as I do my own accounts so this advice might be worth what you paid for it 🙂 It must be “an expense wholly and exclusively for the purposes of their trade” to claim the full amount. If she uses it for personal stuff as well then she should claim a proportion of the cost. The capital allowances are huge (£200k IIRC) so you won’t be over that.

HMRC website has a lot of good info on this sort of thing

That wasn’t what he was asking, but whether it could be written off in Year One.

And I think it can, as long as she buys another next year 🙂

thanks.

You have an annual investment allowance where you can claim 100% of various things in the first year. I think it was up to £100k but they dropped it to £75k. For example my pick-up qualifies and I’ll be claiming £20 odd grand this year rather than writing percentages down. Obviously as I’ll have claimed it all, any proceeds when I sell it will be classed as profit.

You need to check the HMRC website to check if computers qualify. All the info is there.