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Post Info TOPIC: Can I claim on this?
shellie


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Can I claim on this?
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Hi everyone

I have a quick question, my client has recently bought a camcorder and when asked if this for business use, replied that she uses it for both, can we claim a certain amount or the whole amount?? not sure how to go about this one.

Thanks

Shellie confused

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rowets


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Hi Shellie,

My view would be that if the camcorder is not wholly and exclusively for business use then only a percentage should be claimed, through Capital Allowances if it is to be capitalised or through revenue expenditure.  Dare I ask the nature of the business? biggrin

Tim

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Tim Rowe
TSR Accountancy & Bookkeeping Services
shellie


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Hi Tim

I did think that only a percentage could be claimed, do you know how to work that out?

And the nature of the business is a consultancy/trainer firm, they do training exercises to create productivity I think! I just do the books lol

Shellie

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rowets


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Hi Shellie,

Just returned from week away so only just seen your post.

Your client will need to tell you what percentage is down to business use, but they will need to be able to support their claim somehow in the case of an HMRC enquiry. Maybe they could keep a written log of how often the item is used for business purposes and how often for private purposes?  It would be difficult for them to prove, but then again it may be difficult for HMRC to disprove.

If I were you I would be tempted to enter the full amount as Capital expenditure, claim the Capital Allowances but in a separate 'private use' pool and then add back a nominal percentage for private use, maybe 15%?

Hope that helps.

Tim

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Tim Rowe
TSR Accountancy & Bookkeeping Services
shellie


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Hi Tim

Hope you had a good hol.

Thanks for the reply, I will double check with her to find out how often she uses the camcorder for work and go from there.

Thanks again

Shellie

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