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Question. What of the following would qualify as a tax Deductible expense?

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  • 12-10-2006 8:46pm
    #1
    etphonehome
    Closed Accounts Posts: 6 ✭


    Question. What of the following would qualify as a tax Deductible expense, in relation to Small Business Accounts

    Clothes Business Suit, Business Shirts, Business Shoes, Business Coat, Washing and ironing of shirts and suits.

    Utility bills If also work carried out from Home Can Utility bills be of set as well as Office utility bills, i.e. GAS & ESB

    Computer/ IT. Office needed Software / Hardware. Computer/ Laptops

    Petty Cash. News Papers, Milk, Morning coffee and Snacks, sandwich or deli counter purchase at lunch.

    Office. Furniture Fixtures and fittings. Refit costs and or display centres or wall mounted display areas.

    Canteen Fridge, Kettle, Chairs, Cutlery & Crockery

    Sorry for seeming so ignorant but I don’t want to make a mistake on submission first time around on the self assessment.

    Any additional help would be greatly appreciated.

    Thanks E Tracy.


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    #2
    antoinolachtnai
    Registered Users Posts: 9,787 ✭✭✭antoinolachtnai


    1. No, in general (but there are a few small exceptions)

    2. Probably not if you also have an office. But maybe some fraction could, if space in your home is devoted to work. I'm not sure.

    3. No. No. No. These are not expenses. But there are capital allowances for them.

    4. Petty cash is not an expense item. It's a means of managing a cash drawer. None of the stuff you mention is deductible generally speaking.

    5. These are capital costs, not expenses. You can avail of a capital allowance, probably.

    6. These are capital costs, not expenses. You can avail of a capital allowance, probably.

    All in my opinion of course.


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    #3
    karangka
    Registered Users Posts: 57 ✭✭karangka


    1. No. Except for work uniform. (e.g safety hat for construction workers)

    2. Yes. Only the portion related to business. Don't use fixed portion though. Like saying 25% of all utility bills is for business. It might backfire later when you decide to sell your property - CGT issues, PPR relief.

    3. No. Capital items. Except for annual license fees or support costs.

    4. Reasonable amount for newspaper, magazine should be ok if they relate to your business.

    5. No. Capital items.

    6. No. Capital items.


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