[macmac]

cant decide what to put my carbon facelift down as for tax purposes, consumable or equipment. will it last a year without wearing? if it lasts longer than 1 year does it have to be classed as equipment?
what do you guys do?

tony

[Mr. S]

ive put mine as capital expense over 4 years for my 60ft.

My usual domestic are glass fibre so normal expense.
Looking to buy carbon for domestics think that will be capital.
I been reading the hmrc.gov sheets/guidelines, i dont think there is any clear cut answer, just if your pole lasts a year or less it should b a consumable, even if it costs hundreds, cos next year youll b buying another.

I went on some course a long time back to answer questions like this, but what one person says another will differ with the answr. The taxman is the taxman after all. suppose it depends who at IR looks at your accounts at the end of the day

Take it your doing your accounts too this weekend then ha ha! Me too! Hence why im up late

[macmac]

yeah, i have a little glass pole which will be a consumable, its just the facelift. if a section wears i'll replace with a new section so i suppose the new section will be the consumable & not the whole pole from new.

tony

[SherwoodCleaningSe]

If it's not a clear cut answer I'd put it through as what works for you.  If you really want to lower you tax bill this year put it all through now.

There are no guarantees that you'll still be using the same pole in 3 year time.

Simon.

[macmac]

thanks for replies guys, does seem to be a bit of a grey area.

tony

[Ian_Giles]

Well I am undecided whether to allow it as a capital expense over a few years or not :
As I see it, these are things that wear out, as does your hose, your pump, mebranes, brushes and so on.
Just about the only thing that doesn't is your water tank, and even so, what if you disgard your 250l tank and upgrade to a 400l or larger....

Sometimes it is better to allow things as a capital expense and claim for them over a few years so as to spread the benefit.

Some of you will make a pole last donkeys years (so to speak) others won't...

Ian

[Ian Rochester]

Consumable!

[macmac]

i'm heading towards consumable, this will suit me best this year.

tony