Greg Owens's dashboard

Not deleted - and able to see it when i view the thread. Repeated here:

Thanks Emily. So how does it then show as a capital asset of the business?
Also, does this mean that my assumptions around VAT were wrong? I expected to be able to reclaim the VAT on the purchase, since:
Asset purchase: 11/09/2009
Incorporation date: 24/09/2009
Flat rate VAT reg: 01/10/2009

Bit confused - especially as my VAT period is now locked following Jan VAT return..

Thanks Emily. So how does it then show as a capital asset of the business?
Also, does this mean that my assumptions around VAT were wrong? I expected to be able to reclaim the VAT on the purchase, since:
Asset purchase: 11/09/2009
Incorporation date: 24/09/2009
Flat rate VAT reg: 01/10/2009

Bit confused - especially as my VAT period is now locked following Jan VAT return..

"Prior to incorporation date" seems to be the mitigating factor... I guess what is happening is that FreeAgent is applying 1 cycle of depreciation against the non-existent "period" that preceeds incorporation, then another cycle at the start of Year 1 hence an asset with a 2-year write-off is actually written off over an elapsed period of just a couple of weeks.

The simple solution might be to record the transaction as at incorporation date however not sure what this means legally, tax wise etc. More importantly (for me at least) my "effective from" date for my flat-rate VAT registration is after the purchase of my laptop - I want to claim the VAT back on that as (if I understand correctly) this falls outside of the VAT flat-rate scheme as the purchase predates the agreement.

Basically- I need a solution - even if this is some nasty firking about with jounral entries. Advice please, FreeAgent guys...!