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

Capital allowance Question

bbam · 2013-10-09 18:43:47

Just a quick question.. Regarding electronic equipment that will have a useful life expected to be 3-4 years.. How is this reflected as Capital allowance if it has to be over 8 years.. A laptop would be an example... never going to last 8 years.. But do I just do it over 8 years anyway ??

09-10-2013 06:43PM

#1

bbam

Closed Accounts Posts: 7,410 ✭✭✭

Join Date: February 2007

Posts: 7139

Just a quick question..
Regarding electronic equipment that will have a useful life expected to be 3-4 years.. How is this reflected as Capital allowance if it has to be over 8 years..

A laptop would be an example... never going to last 8 years..

But do I just do it over 8 years anyway ??

0

Comments

#2 09-10-2013 06:46PM

nompere

Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭

Join Date: December 2006

Posts: 1647

Just claim 12.5% per annum - and then when you scrap it you get the rest of the cost as a balancing allowance.

0
#3 09-10-2013 06:47PM

mkdon05

Registered Users, Registered Users 2 Posts: 766 ✭✭✭

Join Date: April 2006

Posts: 674

What you charge in your accounts is depreciation to reflect the life of the asset, the tax man disallows this and instead allows you the capital allowance of 12.5% per year.

0