Funding a lathe

[warren]

I'm a tree surgeon (no shit sherlock). I want to buy a lathe to turn bowls from the stuff i cut down (as a hobby to start with). Would hmrc throw a wobbly if i brought one through the company to use up my tax dollars rather than give it to them ???

[Squaredy]

15 minutes ago, warren said:

 

I'm a tree surgeon (no shit sherlock). I want to buy a lathe to turn bowls from the stuff i cut down. Would hmrc throw a wobbly if i brought one through the company to use up my tax dollars rather than give it to them ???

 

Your accountant is the person to ask.  But the answer is if it is wholly for business use then that should be fine.  If challenged you might have to show how it is used in your business.

[spuddog0507]

2 minutes ago, Squaredy said:

Your accountant is the person to ask.  But the answer is if it is wholly for business use then that should be fine.  If challenged you might have to show how it is used in your business.

yes by all means put it through make 5 bowls put them on ebay / facebook sell them then do the country fairs as that will all be cash put your expenses through and a bit more besides and you know what to do with the rest, claim a bit more on your electric bill for lighting, dust extraction and powering the lath, if you dont put it through it will be costing you as if customers pay BACS paypal etc you can be sure that the HMRC will want there cut, i put everything out door related through coats boots wellies fleeces etc and have just been pulled up on one item which where a pair of meindle dovre boots £240 accountant asked why i needed a pair of £240 boots, i replied there warm, waterproof and comfortable to wear and if i had a nice dry carpet under my feet like you i would only need a £50 pair of shoes like you, but unfortunatly i work outside in the elements, no reply from him and yes they went in,