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Thread: Broken laptop

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    Default Broken laptop

    My 3 year old HP laptop has finally given up the ghost and died completely. It is a company asset.

    I understand that I can write this asset off and make a note that it’s been disposed of. I then plan to purchase a new one to replace it. I'll purchase the laptop and claim the total back as an expense.

    Anyone see any issues with this?

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    Quote Originally Posted by badger7579 View Post
    My 3 year old HP laptop has finally given up the ghost and died completely. It is a company asset.

    I understand that I can write this asset off and make a note that it’s been disposed of. I then plan to purchase a new one to replace it. I'll purchase the laptop and claim the total back as an expense.

    Anyone see any issues with this?
    Was it telling the right time before it died?
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    Quote Originally Posted by cailin maith View Post
    Was it telling the right time before it died?
    No, it was 3 years ahead. Turns out he dropped it on the way home from PC World.
    Quote Originally Posted by Bean
    I admit that I'm a lazy lying cretin, but so what?
    25 June 2018

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    Times all relative.....

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    Quote Originally Posted by badger7579 View Post
    My 3 year old HP laptop has finally given up the ghost and died completely. It is a company asset.

    I understand that I can write this asset off and make a note that it’s been disposed of. I then plan to purchase a new one to replace it. I'll purchase the laptop and claim the total back as an expense.

    Anyone see any issues with this?
    Have you already been including depreciation of this asset in previous year's accounts? That may affect it, I guess.
    Quote Originally Posted by Bean
    I admit that I'm a lazy lying cretin, but so what?
    25 June 2018

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    Quote Originally Posted by badger7579 View Post
    My 3 year old HP laptop has finally given up the ghost and died completely. It is a company asset.

    I understand that I can write this asset off and make a note that it’s been disposed of. I then plan to purchase a new one to replace it. I'll purchase the laptop and claim the total back as an expense.

    Anyone see any issues with this?
    It can't be an expense, it needs to be added to your accounts as a fixed asset and amortised over the expected life of the asset

    Only if you were to retain a laptop for less than a year before selling it on could you justify claiming it as an expense
    Doing the needful since 1827

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    Quote Originally Posted by amcdonald View Post
    It can't be an expense, it needs to be added to your accounts as a fixed asset and amortised over the expected life of the asset
    It can be an expense. It depends on the cost of the laptop and your accountants view.

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    Yes the asset has been depreciated in the accounts.

    I understand it’s not an expense and would be identified in the accounts as a company asset but the for the purpose of purchase I would buy it and claim the total back under an expense claim.

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    This is the link I was going to post - http://forums.contractoruk.com/accou...ml#post1259435

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    Quote Originally Posted by SueEllen View Post
    It can be an expense. It depends on the cost of the laptop and your accountants view.
    Your accountant can have any view they like but it's still a fixed asset if it's expected use is over 1 year

    I should know I spent nine long years as an accountant bored for every minute of my working day, and I've yet seen a laptop cheap enough not to count it as an asset

    It depends how risk averse you are and how much hassle you want in the case of an IR inspection....
    Last edited by amcdonald; 2nd March 2011 at 15:02.
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