Just wondering if anyone could clarify the following please?
I have checked on the HMRC website which is rather a mindfield!
Sole trader, using cash accounting who is claiming business expenses for tools purchased over the year. These range from costing £50.00 to £300.00 per item. I have noted that under cash accounting you cannot claim capital allowances (apart from the purchase of a vehicle) and I am seeking some guidance as to what category a more experienced bookkeeper would use for these items please as they don't seem to be listed as an allowable expense?
Thank you in advance,
Regards Julie Detheridge MICB.