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I currently rent a practice space, as I am a coach in my secondary occupation. I would like to place a gypsy wagon in my garden as a practice space. Can this be fully deducted? What is the best way to handle this from a tax perspective?
I currently rent a practice space, as I am a coach in my secondary occupation. I would like to place a gypsy wagon in my garden as a practice space. Can this be fully deducted? What is the best way to handle this from a tax perspective?
Great idea! :)
You can claim a gypsy wagon as a practice space for tax purposes; I see no reason why you couldn't. The tax authorities use a broad definition: costs are deductible if they are incurred "to obtain or maintain taxable income".This applies to your gypsy wagon if you can demonstrate that it is necessary for your coaching activity (practice space). It is up to you to choose how that space should look and whether or not it can be accommodated in a gypsy wagon. So it's not up to the tax authorities to choose :) In Dexxter: Book the gypsy wagon under the cost category "Investment" if it is a large purchase, but I suspect that the cost price will be above €250 and therefore an investment.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.