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Purchase of a laptop with owner's gift voucher

How to treat a purchase of a company laptop where owner contributed a gift voucher towards the cost

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A director of a closed company bought a laptop for £400 on a company card for business use.  The laptop's original price was £500. It was reduced by £100. This £100 reduction is shown as a gift voucher on the invoice. This reduction is a trade-in of the owner's private old laptop. What is the correct accounting treatment of this transaction? Will there be any tax implications that would need to be reported to HMRC, for instance on P11D? Thank you.

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11th Jul 2019 18:57

What would be the benefit to the director that you would put on a P11D?

Personally, I’d go Dr FA £500, Cr bank £400, Cr DLA £100.

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11th Jul 2019 19:31

If the company has closed, why is it buying new equipment??

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By SXGuy
to Accountant A
11th Jul 2019 19:35

I'm gonna take a wild stab and say the op meant "close" company.

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By SXGuy
11th Jul 2019 19:34

P11d for what? The director has contributed to the purchase of a company laptop and therefore the company owes the director the amount he contributed.

As the post above me says. Cr the dla 100

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12th Jul 2019 08:58

Director has sold his laptop for £100 and paid the proceeds to the company with which it has part-paid for a new laptop.

What's the problem ? Just think it through, step by step.

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