You don’t mention the date up to which your accounts are being prepared, but suffice it to say that the date on which the purchase of goods of the type you describe should be recognised in the accounts is the date of physical delivery of them to you.
My accounts are being prepared up to 5th April 2022. In terms of my self-assessment you state it should be the physical delivery date (which might be 30th April 2022), and then in terms of VAT it would be the date of payment (31st March 2022). Is that correct?
My accounts are being prepared up to 5th April 2022. In terms of my self-assessment you state it should be the physical delivery date (which might be 30th April 2022), and then in terms of VAT it would be the date of payment (31st March 2022). Is that correct?
The I.T. example aside, it doesn't sound like it would cover things like a sound engineer buying a new mixing desk for their studio, for example. Does that qualify as 'machinery'?
My answers
Sorry yes I should've mentioned they would be fixed assets on which AIA/capital allowances will be claimed
My accounts are being prepared up to 5th April 2022. In terms of my self-assessment you state it should be the physical delivery date (which might be 30th April 2022), and then in terms of VAT it would be the date of payment (31st March 2022). Is that correct?
My accounts are being prepared up to 5th April 2022. In terms of my self-assessment you state it should be the physical delivery date (which might be 30th April 2022), and then in terms of VAT it would be the date of payment (31st March 2022). Is that correct?
I prepare them myself
That's according to this page:
https://www.gov.uk/guidance/super-deduction
The I.T. example aside, it doesn't sound like it would cover things like a sound engineer buying a new mixing desk for their studio, for example. Does that qualify as 'machinery'?
Machinery to me sounds like it would be equipment used for manufacturing etc.