Morning all,
This question is some kind of a shame as it seems a very trivial one. Anyways, my accountant is off for some days and who is the best source of information I know?, askaboutbusiness of course.
The thing is I would like to change my laptop and as I am contracting with my own company it seems a no brainer to buy it with the company. Now, I also have a business credit card from BOI linked to my company's account.
So the question is, if I buy the laptop with the card, obviously I avoid paying the VAT, but do I avoid also paying tax? I mean, I normaly use the money of the company to pay myself and I have to pay taxes on that money. Now, if I buy the laptop, that buy will be before taxes. Therefore the laptop will be 40% cheaper plus the money you save in VAT.
Sorry about this question, I know is kind of basic, but never bought anything with the company... am I right with my assumptions?
Thanks!
This question is some kind of a shame as it seems a very trivial one. Anyways, my accountant is off for some days and who is the best source of information I know?, askaboutbusiness of course.
The thing is I would like to change my laptop and as I am contracting with my own company it seems a no brainer to buy it with the company. Now, I also have a business credit card from BOI linked to my company's account.
So the question is, if I buy the laptop with the card, obviously I avoid paying the VAT, but do I avoid also paying tax? I mean, I normaly use the money of the company to pay myself and I have to pay taxes on that money. Now, if I buy the laptop, that buy will be before taxes. Therefore the laptop will be 40% cheaper plus the money you save in VAT.
Sorry about this question, I know is kind of basic, but never bought anything with the company... am I right with my assumptions?
Thanks!