Went self employed last year and set up my limited company. I've not turned a profit yet but I'm having to make up the company accounts for my tax return.
Most of it is pretty simple, I gave the company a loan myself from redundancy pay and used it to buy equipment, tools, stock and pay my fees etc.
One of things I also used the company's loan for was to buy a DB and all the bits to fit in my own flat as my initial demo piece for the inspector.
I want to count it as a business expense, afterall it was necessary to get myself registered. If I'd installed it in someone else's property and let them have it for nothing as I was using it for inspection purposes all would be fine, but I'm a bit worried that HMRC are going to think I'm taking the p*ss by improving my own flat on company money!
What's the best thing to do here?!
Most of it is pretty simple, I gave the company a loan myself from redundancy pay and used it to buy equipment, tools, stock and pay my fees etc.
One of things I also used the company's loan for was to buy a DB and all the bits to fit in my own flat as my initial demo piece for the inspector.
I want to count it as a business expense, afterall it was necessary to get myself registered. If I'd installed it in someone else's property and let them have it for nothing as I was using it for inspection purposes all would be fine, but I'm a bit worried that HMRC are going to think I'm taking the p*ss by improving my own flat on company money!
What's the best thing to do here?!