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fanielessing
Level 1

Hello. as a small business owner . How do I categorize expenses made on workshop equipment and tools ?

 
1 REPLY 1
John C
QuickBooks Team

Hello. as a small business owner . How do I categorize expenses made on workshop equipment and tools ?

Hi fanielessing As these are classed as assets you would have to account for the purchase of these on your actual self assessment form. If you're using the SA103F the tax allowances for vehicles and equipment (capital allowances) section is box 49-59 and if you're using the SA103S it is 23-26. We must make you aware that we're not accountants and any advise that we give you such as the above should be qualifies by a professional.

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