Hi
Hoping my fellow members can help with this one.
Scenario -Tricky
Jan 2010 - Purchase of Cooker January 2010 on buy now pay later 299.00, used privately
Nov 2010 - Business Start Date
Jan 2011 - Cooker paid for with cash from business grant of (£1,000)
Cooker situated in home, 25% Business use and 75% private use.
1. Can the cooker be transferred to the business at the NBV as of Jan 2011 2. If so, the use of the cash from the business grant can be depreciated at the same time as the cooker? 3. How would you depreciate when the asset is used privatley? What would be the accountng procedure?
Any help would be appreciated.
Kind Regards Helen D
Member in Employment
Edited at 09 Feb 2012 06:23 PM GMT
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