Client is working from home via his close limited company and uses company funds to buy window film. He trades as a computer software engineer and says it is to stop glare from the windows. I am taking it at face value that this is right. Am I correct to declare the purchase in plant and machinary? Am I able to claim Annual Investment allowances or writing down allowances if I so choose?
In a past year the client purchased a small amount of crypto through the ltd co. I have not claimed any tax allowances on the purchase. Am I suppoosed to revalue each year and pass the difference through the intagible fixed assets schedule? If so, and there is an increase where do i journalise the corresponding credit entry?
Finally, some of the computer hardware has both increased and reduced in price. There is quite a large amount. Do others try to match net asset value of the assets against market values in the fixed assets schedule with a revaluation each year? If so, do the corresponding entries pass through revaluation reserves?
