Expense or capital allowance

[andy1992]

When doing SA return, do you claim tools like squeegees, t bars scrapers etc under capital allowance section or do you list them as expenses when calculating the taxable profit ?

 

[laddergarder]

I think its generally only things like vehicles that goes under capital allowance. Technically, you could put the squeegee under capital allowance, but not the rubber because that will likely perish. You really don't want allot through capital allowance because it with push up you tax (for this year). Unless its definitely going to last a few years, I would just list it as an expense.

 

[sdrah]

i was told by an accountant that everything that cost more than 300 quid goes to capital allowance the rest are expenses .... however im a bit confuse anyway .. what about the hose which costs £60 and will last many years ?! and if the hose has to go as capital allowances then I would say 80% of all tha sh...t ive got in my van should be considered as capital allowance as I would definitely use them for more then 1 year .

last year i listed everything as expenses apart from the pole, carpet cleaner and steam cleaner ...

 

[laddergarder]

My wife is an accountant, and I have had many debates on this one. I dont think you will go far wrong leaving out anything under £300. Its probably not worth the hassle at that point.

http://en.wikipedia.org/wiki/Capital_allowance

 

[sdrah]

a ladder can stay in "capital Allowance " - however I lost two stepladders this year so - for me they a consumables /emoticons/biggrin.png