If an owner of a business introduces his laptop, valued at £1100, would you enter it into the books?
Answers:
Of course.it'll reduce his Director's Loan account or drawings depending on the structure of the business. I'm out of date on tax, but it may attract some kind of capital allownce too.
Yes! It would then be seen as a business expense and he'd be entitled to a tax allowance for it.
he can do, for TAX purposes, but be aware, if he does then it becomes the property of the business and no longer his personal property, so if anything happened to the business it would be counted as part of the company assets.
To be honest, at the rate that computers depreciate, I would be inclined to write it off as office supplies rather than book it as a fixed asset and take capital cost allowance.
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