Expense or Capital Allowance
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  1. #1
    Join Date
    Nov 2013
    Posts
    31
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    Talking Expense or Capital Allowance

    Hi,

    I am newly registered in Feb 2014, and am just trying to submit my online self assessment

    I purchased a car seat and a 2nd hand double pushchair, would these be classed as setup expenses? or should I class them as capital allowances?

    Thanks All in advance

  2. #2
    Join Date
    Feb 2013
    Posts
    1,151
    Registered Childminder since
    Mar 04
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    Default

    I would class as expenses. In this day and age practically disposable items once used frequently. One could argue that they arn't resalable items after they have been put through the mill. If you do re sell them just put amount through your accounts as income.
    They arn't worth much - if anything - as a capitol item unless your purchasing the car to go with the car seat? And I presume they aren't coated in gold and worth a fortune. if only.

  3. Likes cathtee, bunyip, Chatterbox Childcare liked this post
  4. #3
    Join Date
    Jun 2012
    Location
    at my computer, of course
    Posts
    4,986
    Registered Childminder since
    Nov 11
    Latest Inspection Grade
    Outstanding
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    Default

    I agree with Koala. I expect everything to be destroyed sooner or later by the mindees. If HMRC ever query this, I intend to ask if they'd buy anything off me - complete with 27 different types of children's dirt and body fluids.

  5. Likes Koala liked this post
 

 

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