on 6/1/03 11:54 am, Darrin Jenkins wrote:
> nearer �4K after 3 years. One way round this is to lease the equipment and > hand it back to the lease company / shop at the end of the lease, since the > photographer would not own the equipment at any time and would in effect be > hiring it, then full 100% allowance should be possible. > Am I correct on this? > With a lease the full cost of the lease is deductaqble against tax, but this is spread over the life of the lease. So if you have a monthly lease payment of �100 after VAT deductions then, assuming 12 payments, �1200 is deductable against the tax for that year. This is slightly different to a tax allowance, you can not claim an allowance on something you do not own. You also have to be sure you are not undertaking a lease/purchase, as the tax situation is different. Ian -- Ian Goodrick, Tel/Fax +44 (0) 1474 333066 Ian Goodrick Photography, Mobile 07860 362322 Gravesend, Kent, UK =============================================================== GO TO http://www.prodig.org for ~ GUIDELINES ~ un/SUBSCRIBING ~ ITEMS for SALE
