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"Private" imports as business expenses

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  • 17-11-2011 1:10am
    #1
    selekta
    Registered Users Posts: 90 ✭✭


    A sole trader, not registered for VAT.

    Suppose I were to buy a laptop and some software (Adobe CS) in the US and got them transported by a friend in their luggage. The laptop doesn't go through customs, neither does the software. I have invoices in my name, with US shipping address.

    Can I claim these as fixed assets / expenses?

    Other than the above, I have some software/services I bought from the US already, as online downloads, with American invoices. No physical media were involved. Are they deductible expenses too?

    Thanks.
    Tagged:


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    #2
    Bigcheeze
    Closed Accounts Posts: 2,858 ✭✭✭Bigcheeze


    Yes, assuming they are for the business. VAT is irrelevant for tax deductibility.


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    #3
    selekta
    Registered Users Posts: 90 ✭✭selekta


    Thanks. I was lead to believe US shipping address could have been a problem, that the item needed to be shipped to my address.

    Just to make sure: is software an expense or should I depreciate it as an asset?


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