Hi All,
As always to make things easier:
1. Soletrader
2. Registered for VAT
I will buy 10 Laptops next month (2010). (not for resale)
I already know that they are assets and cannot be claimed as expenses.
I also know that I can claim capital allowance of 12.5% over 8 years.
Questions:
1. can I claim the first 12.5% of capitall allowance in the tax return for 2010? Or for 2011?
2. What about VAT? Can I claim ALL VAT in my bi monthly return, or the 12.5% applies also to VAT claims?
Thanks for all your help!