Costco Membership

[chrisl]

Using this to by office supplies and materials.
I assume this wouldn't be tax deductible and would be a benefit in kind if it was to be claimed as an expense against the Ltd Co.

[northernladuk]

Using this to by office supplies and materials.
I assume this wouldn't be tax deductible and would be a benefit in kind if it was to be claimed as an expense against the Ltd Co.

It is easier and quicker to find the answer to this than it is to apply for a costco card.

There are searches on here, articles to the right, extensive documents on what you can and can't claim on the Nixon Williams and SJD sites let alone google.

And what has the title 'Costco membership' got to do with claiming expenses?

[scooby]

its an expense if it's solely for the office. i.e. a tray of buns, a TV = no. a book of stamps, desk, chair = yes.

Not sure what more you would buy from costco other nappies (the thing you really save on!). Plus you will find you dont actually save that much, if anything, against supermarket prices. Google shopper is a great tool in costco, walk round, scan the product you fancy, see it cheaper elsewhere.

It's only cheap when you dont pay the VAT, but as it is not an expense, you have to pay it!

[Durbs]

Not sure what more you would buy from costco other nappies (the thing you really save on!).

I got a massive industrial sized tub of Reggae Reggae sauce. Nice. Didn't book it to the Ltd though.

[northernladuk]

I got a massive industrial sized tub of Reggae Reggae sauce. Nice. Didn't book it to the Ltd though.

Thought your doctor hard warned you about covering yourself in that everynight??

[escapeUK]

And what has the title 'Costco membership' got to do with claiming expenses?

You've jumped in without understanding the question once again. It costs to join Costco, and I believe he is asking can he expense the cost of joining to his Ltd company. Why not? Its such a small expense, go for it. Personally I prefer Makro which is free.

[northernladuk]

You've jumped in without understanding the question once again. It costs to join Costco, and I believe he is asking can he expense the cost of joining to his Ltd company. Why not? Its such a small expense, go for it. Personally I prefer Makro which is free.

You are quite correct. My apologies. Maybe I should have gone off one about why he is bothering for such small amounts when it isn't wholly and exclusively instead.

As Escape says though it is so small it's really up to you what to do. Hardly going to bankrupt you if you get investigated.

[escapeUK]

Maybe I should have gone off one about why he is bothering for such small amounts when it isn't wholly and exclusively instead.

He clearly stated that he would be using the membership to buy "office supplies and materials" so he could quite conceivably be using it 100% for business expenses. I suspect your time would be better spent trying to understand first and foremost rather than looking for an excuse to "go off on one" as you meant to say.

Anyway, I bought a great Samsung 5.1 surround sound system from there. Obviously it went through my accounts as computer consumables (just joking)

[Platypus]

its an expense if it's solely for the office. i.e. a tray of buns, a TV = no

Well that's not quite true is it?

Buns in the office, a new visual display device, these are allowable. Just like an iPod (for R&D). Or a DVD player (also R&D). etc.

[northernladuk]

He clearly stated that he would be using the membership to buy "office supplies and materials" so he could quite conceivably be using it 100% for business expenses. I suspect your time would be better spent trying to understand first and foremost rather than looking for an excuse to "go off on one" as you meant to say.

I am not sure why we are arguing as it is trivial but he would have to prove it was to an inspector which means not buying a little something while you are there cause it is cheap...... which is what everyone does. That's the technicalities of it. If the OP wants to convince himself it is 100% and the little things don't matter then that is up to him I don't GAS.