If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Is a website a capital expense?

jonnybax · 2007-05-21 18:10:00

If one was to start an internet business, the website being the main form of income, would it be classified as an asset and thus a capital expense?

21-05-2007 6:10pm

#1

jonnybax

Closed Accounts Posts: 11 ✭

Join Date: May 2007

Posts: 8

If one was to start an internet business, the website being the main form of income, would it be classified as an asset and thus a capital expense?

0

Comments

#2 22-05-2007 10:48am

Jakey

Closed Accounts Posts: 105 ✭✭

Join Date: January 2007

Posts: 99

Intangible non current assets are generally only recognised and amortised if they are purchased externally, If they are internally generated they are not recognised.

So if you buy the website (pay for it to be built) it could be recognised.

0
#3 23-05-2007 7:41pm

karangka

Registered Users, Registered Users 2 Posts: 57 ✭✭

Join Date: April 2005

Posts: 53

Certain parts of website development cost could be capitalise. Its not true that all cost relating to developing website (for own use) are treated as profit and loss expenses.

See UITF 29: http://www.frc.org.uk/images/uploaded/documents/328.pdf

0