Hi all
Very brief question(s).
Within a client's accounts (producing household products) we have two minor expenses:
£24 paid for Hallmarking
£70 paid to the Intel Prop Office for registration of designs protection
In your opinions, should this be treated as an asset or revenue expenditure?
Related resources
Replies (9)
Please login or register to join the discussion.
I'll leave others to reply to this as can't really do the question justice for it's inconsequence
Expenses, legal & professional, for me.
Spend a few k and I might think about it.
But, generally, we favour expensing unless we really can't.
Just in case ....
Hallmarking and IPO expenses
Treatment of suchHi all
Very brief question(s).
Within a client's accounts (producing household products) we have two minor expenses:
£24 paid for Hallmarking
£70 paid to the Intel Prop Office for registration of designs protection
In your opinions, should this be treated as an asset or revenue expenditure?
You mention 'client'.
If you really are in practice, and feel the need to ask such a question, well, quite frankly, you shouldn't be.
How about capitalising it as an intangible and writing it off straight line over - say - ten minutes ?
HMRC have - during an enquiry into business accounts of business turning over £m's. - disallowed negligible cost of registering a crest with College of Heralds to use in the business