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Mobile Handset Purchase
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Originally posted by northernladuk View PostBut what's wrong with putting it in the original category and dealing with it as an asset?Comment
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Originally posted by Bomster1 View PostSo my accountant has stated the following
Without a contract in the company name, it will be hard to justify the cost of the handset. The handset should only be expensed through the limited company if it is used for business purposes only.
https://www.gov.uk/hmrc-internal-man...anual/eim21779
Section 319 ITEPA 2003 (as amended by Finance Act 2006)
In most circumstances the provision of one mobile ‘phone to a director or employee for private use is exempt from charge. The exemption covers the phone itself, any line rental and the cost of private calls paid for by the employer on that phone.Last edited by TheCyclingProgrammer; 25 July 2018, 14:01.Comment
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I must say it is concerning to me that my accountant is making this mistake/misjudgment.
Like you say, if they can't get this right then what else will they get wrong.
I'm with Gorilla who I researched on this site, and they came as advised by manyComment
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Originally posted by Bomster1 View PostI must say it is concerning to me that my accountant is making this mistake/misjudgment.
Like you say, if they can't get this right then what else will they get wrong.
I'm with Gorilla who I researched on this site, and they came as advised by many
I’ve just looked in FreeAgent and the purchase of my iPhone 7 in September 2016 is listed as a company asset under Computer Equipment. I have an EE sim-only business contract that’s paid directly from the company account and categorised as Mobile Phone.Comment
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Originally posted by BackupBoy View PostI’m with Gorilla too and I’ve not had any issues with my accountant there regarding mobile phone purchase and management. (Or on any other matter either)
I’ve just looked in FreeAgent and the purchase of my iPhone 7 in September 2016 is listed as a company asset under Computer Equipment. I have an EE sim-only business contract that’s paid directly from the company account and categorised as Mobile Phone.
Out of interest, what asset life did you put on your iPhone? I would assume just 2 years? Is this fairly inconsequential?Comment
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