Might be a silly question but ...
My client bought a car instalments from company he is working for as self employed.
The value of the car is £2,000 and he pays £200 monthly.
Is there any point of allocating this vehicle as a fixed asset?
If yes how many years the depreciation should take?
Many thanks for all your comments
Replies (1)
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Yes it's a fixed asset for accounting purposes, and the period over which it should be depreciated, as always, is its expected useful life.