I have an invoice from the purchase of three machines, which comes to £1,200. I read that amounts over £1,000 are required to be written off.
I also have an invoice from 800 euros, which I assume I can claim as an expense. Under which heading?
Who can help me with this? Thank you!
At Dexxter, they actually recommend stopping all your costs from €250 upwards in your depreciations. And if that concerns machines that you are going to use for a long time, I would definitely do that. The tax authorities also use that threshold of +/- €250. The €1000 threshold applies to VAT administration. For vAT declaration, this only applies to investments above €1,000. I have never heard of €1,500 myself. It seems like a very large amount to me.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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