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Claiming Expenses - Software/Books

  • 22-07-2017 9:32pm
    #1
    Kenpo
    Registered Users, Registered Users 2 Posts: 296 ✭✭


    Hi,

    Sorry if this has been covered before...

    Can I claim software bought over the year for my online business as an expense? Also can I claim for books bought over the year that are relevant to my business (not for resale)?

    Thanks for the help

    K


Comments

  • #2
    Gloomtastic!
    Registered Users, Registered Users 2 Posts: 8,833 ✭✭✭Gloomtastic!


    Yes, you claim for both if they were purchased for the business and have receipts.


  • #3
    onedmc
    Registered Users, Registered Users 2 Posts: 456 ✭✭onedmc


    Yes of course you can, and if you purchased them before setting up the business then you may also be able to put part down as investment in the business at startup. Taking the investment out later tax free.

    Eg bough a printer a year ago for €300 now worth 200, invest the printer worth 200 in the business.


  • #4
    Gloomtastic!
    Registered Users, Registered Users 2 Posts: 8,833 ✭✭✭Gloomtastic!


    onedmc wrote: »
    Yes of course you can, and if you purchased them before setting up the business then you may also be able to put part down as investment in the business at startup. Taking the investment out later tax free.

    Eg bough a printer a year ago for €300 now worth 200, invest the printer worth 200 in the business.

    Careful now! I may be wrong but I believe Revenue only allow expenses incurred after settling up/registering the company.
    Plus with your printer scenario, how are you going to produce a receipt? It can't be issued by you as there may be tax implications.


  • #5
    onedmc
    Registered Users, Registered Users 2 Posts: 456 ✭✭onedmc


    Gloomtastic! wrote: »
    Careful now! I may be wrong but I believe Revenue only allow expenses incurred after settling up/registering the company.
    Plus with your printer scenario, how are you going to produce a receipt? It can't be issued by you as there may be tax implications.

    Yes, its not an expenses, its an investment. It need to be appropriately valued.


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