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fishyfillet
Jan 6, 2023 11:02 AM UTC
Question

How to make a record for the loss of value of sold equipment in QB Self employed?

Hi,

Hoping I can get help with this.

 

During Tax Year 21-22 I have a bought a computer for £650, then sold it for £550, and then bought a new one in the same tax year for £2,200.

How should I record the sale or depreciation in Quickbooks Self Employed, so that I can ensure it correctly reports for my QB 'Tax Summary' report?

 

Cheers

 

1 reply

Ashleigh1
Jan 6, 2023 12:36 PM UTC

Hello Fishyfillet, 

 

Welcome to the Community page, 

 

So it would have to be entered in on the actual self-assessment form on HMRC website as QuickBooks Self Employed is just a partial guide and template to the actual form. You can take a look at the note/help sheets this has more information for you to look at it could go down as box 50 capital allowance but I would suggest you check with a trained and qualified accountant who will be able to advise you more of this as we are just technical support and not trained accountants. 

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