England accounting for YT setup expenses..

[santigold]

Hi All,

(Did a quick search and nothing came up).

I want to setup a channel and need to buy equipment. The plan is that this channel will be part of my existing company that currently has income.

For setup, I will need to buy a camera, microphone and associated accessories such as lights, tripods etc..

What have people done around the purchase of these and deducting as expenses for tax purposes?

 

[cbpayne]

Get advice from a tax accountant.
If the purchases are part of a business, then they are all generally tax deductible.

 

[santigold]

Yea fair enough.

I have a guy already. I was just wondering about putting these through a business at such early stage. A lot of the stuff is consumer electronics type gadgetry and would be afraid of what HMRC say. Has anybody else thought about this?

Perhaps it's a non issue and i'm just being paranoid lmao.

 

[crazy-logic]

depends if you are self employed or a ltd/llp also. but your accountant should know what to do.