Please can someone offer help
My nephew is newly self employed - His business is very simple and paid by by the hour and started in January 2021
For this first year he has purchased computers and printers to a value of £3k His return will be as a cash basis. Does this mean that he cannot use the WDA on capital purchases? It seems such a waste to write off the £3k which provides no benefit as this year his earnings are below the personal allowance. Whereas if he can use the WDA then he can at least claim over the next few years.
Any help would be very much appreciated. I'm finding it hard to understand the ruling on the HMRC website