I have had my own business for the best part of a year and I recently got a new computer. I was told you can put the purchase of a new computer down as a business expense to deduct from your profits so you dont have to pay income tax on it. Im in the UK btw. But ye because of this I went and got a really decent computer that I can use both for my business but also for gaming etc and spent a lot more than I would have if I was just buying it for business use. If I can put it as a business expense I've worked out on a tax calculator it would save me £400 on my tax bill ( pretty sure thats right?) but I am wondering if there is a cap on business expenses like that, like was £2000 an unreasonable expense for a computer to put as a business expense? Have I been correctly informed here?
General / Off-Topic Can I put cost of computer as expense for income tax deduction?
- Thread starter Gemmy91
- Start date
![[VR] Mad Mike](https://forums-cdn.zaonce.net/data/avatars/m/27/27910.jpg?1553527108){kind=avatar}
if you use it for work then yes.......
I cant speak from experience but my mate definitely put his gaming rig on his tax bill.
of course whether or not you choose to trust an internet stranger or not is on you
I cant speak from experience but my mate definitely put his gaming rig on his tax bill.
of course whether or not you choose to trust an internet stranger or not is on you
You can follow HMRC guidance on this and take a percentage of the cost to reflect your business use of the computer. The fact that you spent more than you really needed to is somewhat irrelevant. The cap is a little higher than £2k at the moment too...
In reality, I suspect most people, like Mike's mate, claim the full cost. I probably would in the same position.
In reality, I suspect most people, like Mike's mate, claim the full cost. I probably would in the same position.
