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Is a website a capital expense?

  • 21-05-2007 07:10PM
    #1
    jonnybax
    Closed Accounts Posts: 11 ✭


    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?


Comments

  • #2
    Jakey
    Closed Accounts Posts: 105 ✭✭Jakey


    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.


  • #3
    karangka
    Registered Users, Registered Users 2 Posts: 57 ✭✭karangka


    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


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