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jordan_bateman97
January 24, 2022
Question

Can I claim for second hand machines / equipment that was bought using PayPal from a private sale that is for business only use. If so how, thank you.

  • January 24, 2022
  • 1 reply
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Bought a couple of used electrical goods (CNC, laser cutter and laptop) for the busines. These were bought at different times between 8-2 months ago from a private seller (eBay and Facebook market place) These have been used in this time for prototyping but yet to make a sellable product and as such the business is not generating any revenue yet, only r and d expensises. Sole trader. Can I claim for these items? Can I claim the transport cost of the courier? The laptop needed a new battery so bought one from China, is that claimable ? Is there any down sides to claiming them with no money coming in yet? First time setting up a proper business so trying to understand everything. Thanks in advance.

1 reply

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payment after leaving
January 25, 2022

Hi jordan_bateman97 You'll be able to account for the equipment you purchased by setting them up as assets in QuickBooks. As we're not accountants we recommend that you reach out to a professional, or there maybe someone on the Community, that will be able to provide you with some advice as to whether you're able to claim for them. We have however provided you with a link to the SA103F notes where it indicates that you're able to claim for equipment in the 'Tax allowances for vehicles and equipment (capital allowances)' section.https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/999604/SA103F-Notes-2021__1_.pdf

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