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Title:Capital allowances and the AIA: saving tax on expensive purchases
Duration:13:30
Viewed:9,137
Published:07-08-2020
Source:Youtube

I’ve made a library, it’s on Patreon, and you should join: www.patreon.com/copperlibrary ... If you run a business and you buy expensive things that you'll use for several years ("capital" expenditure) then you need to know how to save tax, which means you need to know how HMRC wants us to treat those purchases when working out your profit. Two types of profit in this video: the accounting profit, and the profit on which HMRC charges you tax. They aren't always the same, though they usually add up to the same amount over the years. 0:00 - INTRO 3:29 - CASH BASIS 4:58 - AIA 9:40 - LAST TIPS 12:44 - OUTRO If you want to know more about the cash basis, here's my video about that: https://www.youtube.com/watch?v=1dYQf... And if you want to know about claiming the VAT on a laptop or other expensive thing, here's my video about that: https://www.youtube.com/watch?v=nYKfL... Let me know if you have any questions in the comments. Thanks for watching! www.thecoppercoins.co.uk/ DISCLAIMER TIME: Are you my client? No? You don't have an engagement letter from me with my signature on it? Well then I guess you're not my client, not right now at least. So, of course, I have to warn you that this is just general information, just me talking about my experience with accounting, and that my company and I can't be held responsible for what you do with this information. I make these purely to be helpful, but I may have made a mistake, or brushed over some subtleties of the law, or you might be in a situation that means this information is wrong for you. If you want personal accounting advice, go find an accountant and talk to them and maybe hire them. I might be taking on new clients if you want to get in touch. Thanks.

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