At 21:45 06/01/2003, Ian wrote: >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.
Yes, leasing is 100% tax deductible, it's treated like a rental. Also, most companies allow you to keep the item at the end of the term by paying a "peppercorn" rental, usually the equivalent of an extra 1 month's rental, so you can use it until it dies. Cheers, David For anyone interested in "A China Experience" visit www.tingey.tv (last updated 25/7/2002) Buying or selling cameras or digital equipment? Looking for something? Good things are for sale on www.digitalforsale.net =============================================================== GO TO http://www.prodig.org for ~ GUIDELINES ~ un/SUBSCRIBING ~ ITEMS for SALE
