Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: dai on January 12, 2010, 09:59:43 pm

Title: New pole expense or?
Post by: dai on January 12, 2010, 09:59:43 pm

You guys that bought and SL2 or other expensive pole.
Did you put it through your books as an expense or capital asset?

Title: Re: New pole expense or?
Post by: Tosh on January 12, 2010, 10:05:03 pm

Dai,

I would work this out as how many years I would expect it to be in service.  For example if it were to last for 3 years, I'd divide the total sum by 3 and put a third through over 3 years.

If it was the SLX, I'd probably just put that through as lasting for one year, but I'm not sure how long a SL2 would last.

I'm not saying this is the correct way to do it, but that's the way I would do it.

Title: Re: New pole expense or?
Post by: dai on January 12, 2010, 10:11:51 pm

Cheers Tosh, I wish I had followed the advice you gave last year, and filed my own tax return.

Title: Re: New pole expense or?
Post by: Smudger on January 12, 2010, 10:12:55 pm

If the item is to last over a year it is capitol asset

And you can claim 100% of the cost back in one go -     this is for small business

but you can double check with accountant.


Darran