Deferring Costs Until Next Tax Year?

[Foresty_Forest]

I just bought a piece of fairly expensive equipment. Is it possible to defer putting this through my books until the new tax year?

 

[MARA&TS]

What is your reason for wanting to defer the cost?

 

[STDFR33]

No.

That said, the equipment should be depreciated over a number of years.

What are you trying to achieve?

 

[SteveHa]

Do you mean for accounts purposes, or for tax purposes?

 

[Mr D]

I just bought a piece of fairly expensive equipment. Is it possible to defer putting this through my books until the new tax year?

Would it have been better to ask this prior to buying?

 

[Mark T Jones]

No. There have been some high profile legal cases against public companies doing exactly this

You could potentially do a sale and leaseback which might achieve your tax objectives- assuming that’s the goal. (Take advice from a qualified accountant first)

 

[DWS]

If for tax relief purposes and it qualifies for CA then yes

 

[SteveHa]

It's why I asked the question. If they qualify for AIA, then the disadvantage of deferring is that the claim becomes a claim for WDA and will be spread over years, rather than all in one year.