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Buying Items and offsetting as a business expense

  • 21-06-2011 11:16pm
    #1
    Darragh McD
    Closed Accounts Posts: 15 ✭


    If a person is self employed or a director of a plc wants to buy something simple like a computer how is it offset from taxs and what would the difference in price be overall from buying it normally?


Comments

  • #2
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    Darragh McD wrote: »
    If a person is self employed or a director of a plc wants to buy something simple like a computer how is it offset from taxs and what would the difference in price be overall from buying it normally?
    Which is it? director or self employed?

    If self employed and using it for business/work purposes - it would be capitalised and you d calim wear and tear on it.

    If not for business use its simply a personal item and goes to drawings.

    If a director and buying personally - no tax offset.

    If a director and buying on behalf of company - buy it through the company, no reason not to.

    There are vat reclaims possible if you are registered. I didnt add these as dont want to complicate things further.

    Perhaps you d clarify what exactly you are trying to 'achieve'.


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