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Purchases prior to self employment
I bought a laptop to do web design work back in November 2009, but I started freelancing as a web designer in February 2009. Can I put the laptop as an capital asset/expense on my 2008/9 self assessment?
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Inappropriate?@Ryan
If you bought the laptop in November 2008 you can bring it into your business at "market value" in February 2009. Market value for tax purposes is what you could sell it for when it was introduced but most people ignore that and introduce it at cost if the purchase was only weeks before the business started.
I’m happy
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Inappropriate?what does the process of 'bringing it into the business' entail? appreciate this is professional advice that i should be paying for ;-)
I’m feeling cheeky
