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Hi there,
A few things here I want to run some season pros if thats ok, been going round in circles a bit here.
I have a newish client who is a sole trader musician. They drive their motorbike to work all over the country, roughly about 80% BU.
They bought a new bike during the last period so this is AIA allowable ~ 80% BU.
They used to claim AMAP on the old bike. The old bike was stolen. The insurance payout I believe should not be recognised in her accounts.
They want to introduce protective clothing including helmets, visors, gloves, suits, jackets & boots. Some of which is new so AIA (if allowable). Some bought in previous year so WDV at market value (if allowable).
They also have bought security equipment such as locks, wall anchors & cameras.
Would love to know if the items are all allowable? Plus have I got the right accounting treatment for this?
Thanks in advance,
Aidy
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