Discussion
We use six mobiles phones on a business plan on a contract with O2, So much per month for the airtime and then a separate lease agreement for the phones.
If we were to buy the phones outright, can they be treated like any other capital item, depreciated down and then disposed of when they're no longer needed.
I loath monthly payments and like the idea of buying something, getting the tax allowance against it and still having the value as an asset on the balance sheet.
What am I missing other than the fact that most business's lease everything and own nothing?
If we were to buy the phones outright, can they be treated like any other capital item, depreciated down and then disposed of when they're no longer needed.
I loath monthly payments and like the idea of buying something, getting the tax allowance against it and still having the value as an asset on the balance sheet.
What am I missing other than the fact that most business's lease everything and own nothing?
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