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Posted Fri, 10 Nov 2023 08:19:48 GMT by
Hi there. I have just registered as self-employed and need to submit a self assessment, which I’ve never done before, and I have no idea what I’m doing! I suffer with Dyscalculia (numbers dyslexia) and get very confused, so I thought it might help to put an app on my iPad to help keep on top of my income and expenses. Can anybody recommend a relatively good, but affordable platform? Also … before I went self-employed, I bought an iPad for my work. Can I put that on my expenses even though I bought it before registering as self employed? I use it to do my work. I also recently bought some large equipment that I use on a daily basis in my work (not small office equipment), which I believe I can put down as an expense. But the accounting software that I was trying out, did not offer the option to add that equipment as an asset or journal entry as a capital allowance … whatever that means! Now, from what I can gather; capital allowances is major assets that my business will use over several years, which I can deduct the full cost from profits before tax. But as I’m registered as self employed, does that still apply and can I deduct the full cost from my profits? Thank you in advance.
Posted Tue, 14 Nov 2023 11:45:25 GMT by HMRC Admin 5 Response
Hi

In our endeavour to remain impartial at all times, I regret that we cannot recommend any platforms for you to use.  
If you bought the Ipad for your business, then yes, you can claim the full amount provided it is only used for business use.  
If you use the Ipad for private use as well as business use, then the private use element is not allowable.  
Have a look at the links below regarding capital allowances and revenue expenses:
Expenses if you're self-employed
Claim capital allowances                  
HMRC email updates, videos, webinars and community forums
You may also want to view the videos and perhaps register for some webinars, where my colleagues will give a live training session on expenses and capital allowances.

Thank you
 

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