Capital Allowances

[helenlc]

I know they are now called something else and I have just been reading about them but brain has gone dead.

Am I right in thinking that these are things such as pushchairs, garden equipment etc that, in theory, you will have year after year? In other words, they are not a daily expense like craft material, food etc?

Or is there a money limit as to what is a capital allowance and what is not?

I bought a ball pit the other day that was only £10 something in Argos. As long as its looked after, I expect to still have it next year, so do I put this through as a capital allowance? And how about my Tuff Spot? Is this a capital allowance?

I am trying to catch up on my books :blush: and head is thick with cold :o

[sarah707]

Capital allowances are for big things... computers, laptops, big prams costing a few hundred pounds etc.

The rules have recently changed.

£10 for a ball pool just goes through your normal expenses anyway, as would £50 for an electronic toy...

I suggest you ring your tax office about the big stuff unless someone else has something in writing for them setting it out in simple words

[Pauline]

There has already been a discussion about Capital Allowance now called Annual Investment Allowance, you can see the thread here:

http://www.childmindinghelp.co.uk/forum/showthread.php?t=25931

but your ball pit would be considered toys and put through your books normally and not an AIA

[helenlc]

So a £60 buggy and £30 travel cot wouldnt be AIAs either?

Sorry, just want to be sure :blush:

[sarah707]

So a £60 buggy and £30 travel cot wouldnt be AIAs either?

Sorry, just want to be sure :blush:

Not according to that information, no

[helenlc]

Ok thanks Sarah