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Farm Business
Tenant Farming, Subsidies, BPS & Legal Issues
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<blockquote data-quote="Chris F" data-source="post: 7787786" data-attributes="member: 5328"><p>Either of the two above ways for Vat calulcation. Depends really how they accounted for it on their invoice to you whether you use each one. But both result in correct VAT. </p><p></p><p>However for capital...</p><p></p><p>I would say first one it better as the full £4k purchase will show on you asset register for depreciation. With the second way you risk only £2k being put against depreciation. That said you might have made an accounting profit on the machine sold as that might have been written off completely.</p></blockquote><p></p>
[QUOTE="Chris F, post: 7787786, member: 5328"] Either of the two above ways for Vat calulcation. Depends really how they accounted for it on their invoice to you whether you use each one. But both result in correct VAT. However for capital... I would say first one it better as the full £4k purchase will show on you asset register for depreciation. With the second way you risk only £2k being put against depreciation. That said you might have made an accounting profit on the machine sold as that might have been written off completely. [/QUOTE]
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