Can i claim my office fish tank as an expense?
Discussion
In my home office (which is where i run my business from and is only used as an office for that purpose) i have just installed a little fish tank.
Can i claim this as an expnse the same i could any other furnishings...and if so - whats the limit as its a marine tank so cost will be a couple of thousand in all.
Can i claim this as an expnse the same i could any other furnishings...and if so - whats the limit as its a marine tank so cost will be a couple of thousand in all.
Tiggsy said:
so my dentist, who has a massive tank in his waiting room, ...how does he get away with it? And all other similar business that have big show tanks in their loobies?
Military adventurist?
Edited by rich 36 on Saturday 12th May 21:45
Edited by rich 36 on Saturday 12th May 21:54
Tiggsy said:
In my home office (which is where i run my business from and is only used as an office for that purpose) i have just installed a little fish tank.
Can i claim this as an expnse the same i could any other furnishings...and if so - whats the limit as its a marine tank so cost will be a couple of thousand in all.
Can i claim this as an expnse the same i could any other furnishings...and if so - whats the limit as its a marine tank so cost will be a couple of thousand in all.
I cant see why not personally. If the room is has zero personal use, then I cant see that it can be seen as anything otherwise!
Tiggsy said:
so my dentist, who has a massive tank in his waiting room, ...how does he get away with it? And all other similar business that have big show tanks in their loobies?
probably has something to do with the fact that its in the waiting room. One might argue that potential clients would rather go to the dentist with the fish tank so they can be amused by it while they wait rather than going to the dentish without a fish tank.
Tiggsy said:
any accountants?
Does your acountant have one? If he had, I would be be claiming it?
Whenever I visit the accountants I am alert to what he has; daily newspapers, coffee machine, biccies, nice desk lamp, TV in his office. I have business visitors just like him.
Eric Mc will be along shortly to disillusion me.
Leftie said:
Tiggsy said:
any accountants?
Does your acountant have one? If he had, I would be be claiming it?
Whenever I visit the accountants I am alert to what he has; daily newspapers, coffee machine, biccies, nice desk lamp, TV in his office. I have business visitors just like him.
Eric Mc will be along shortly to disillusion me.
He may supply all those things, it doesn't mean they are legitimate expenses or are claimed as such. Much like entertaining.
Quote from above - "Could you convince a Tax Inspector that the expense was wholly, exclusively and necessarily incurred for the business?"
As you are running a business, the "necessarily" test is not relevant. "Necessarily" only relates to those claiming expenses against their "employment" income.
I would suggest that you COULD claim for the fish tank. If you were running a business from a dedicated business premises I would have no doubt that the fish tank would be definitely claimable. Running a business from home does not make any real difference.
However, I would look on such a purchase as an item of "Office Furnitire" so would therfore make the claim as a "Capital Allowance" rather than a straightforward "Expense".
As you are running a business, the "necessarily" test is not relevant. "Necessarily" only relates to those claiming expenses against their "employment" income.
I would suggest that you COULD claim for the fish tank. If you were running a business from a dedicated business premises I would have no doubt that the fish tank would be definitely claimable. Running a business from home does not make any real difference.
However, I would look on such a purchase as an item of "Office Furnitire" so would therfore make the claim as a "Capital Allowance" rather than a straightforward "Expense".
You'd be surprised at how long fish can live. I have a pond in my garden and some of the fish are over 13 years old.
And, no, I don't claim their upkeep as a business expense. I mean, you might be able to claim that your pet Scotty is a guard dog but I wouldn't want to try and convince a tax inpsector that a koi carp serves any security function.
And, no, I don't claim their upkeep as a business expense. I mean, you might be able to claim that your pet Scotty is a guard dog but I wouldn't want to try and convince a tax inpsector that a koi carp serves any security function.
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