- Original Poster
- #1
Hoping for some advice on this.
As mentioned in a previous thread, I'm looking to close down my LTD that I opened when I was working as an IT contractor.
When I do this, I don't want any remaining assets.
I'm doing my tax return at the moment and wanted some clarification on whether computer equipment (a keyboard and a hard drive) I bought for a training course could be put down as an expense or would be an asset.
I still have the items so I am assuming that they would be declared as assets, in which case I won't include them at all as being an expense used for business and this will just be personal items.
On another hand, I bought tyres for my motorcycle which I used to commute to my contract work, so this would fall under maintenance items and could be declared as an expense?
Any advice welcomed.
As mentioned in a previous thread, I'm looking to close down my LTD that I opened when I was working as an IT contractor.
When I do this, I don't want any remaining assets.
I'm doing my tax return at the moment and wanted some clarification on whether computer equipment (a keyboard and a hard drive) I bought for a training course could be put down as an expense or would be an asset.
I still have the items so I am assuming that they would be declared as assets, in which case I won't include them at all as being an expense used for business and this will just be personal items.
On another hand, I bought tyres for my motorcycle which I used to commute to my contract work, so this would fall under maintenance items and could be declared as an expense?
Any advice welcomed.
