Cardens A-Z Guide of Business Expenses You Can Claim: C is for…
COMPUTER EQUIPMENT & ELECTRONICS
If the company gives you computer equipment that you can use for business and also more than an “insignificant” amount of private use, the company will have to pay extra National Insurance as this is considered a taxable benefit. If you are registered as Self-Employed and you buy new computer equipment that you’re going to use partly for work and partly for personal use, you will have to work out how much you’re going to use it for business. and then include only that proportion of the cost in your accounts.
If you already own a computer. chair. etc. and want to bring it into your business, you can claim tax relief for its market value at tbe point you brought it into the business check eBay for similar items and then include that cost in the company’s accounts. Don’t forget that if you are going to carry on using the equipment privately too. HMRC would consider this as a taxable benefit.
If you work from home, you can claim a proportion of your council tax cost. However. depending on how much you use your home for business, you may have to pay business rates rather than council tax. For futher information on home business expenses you can claim please visit the HMRC website.