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Capital items in the books


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When I swapped accountants, he started removing items from my list of capital items. The expensive stuff I'd bought, that still had book values, and made the accounts more complicated.


I've now realised that it's because of this info from HMRC

15.7 What if goods are bought to ‘lease, let or hire’


Where capital goods are bought with the intention of generating income from them either directly (for example boats for hire on a boating lake, hire of bouncy castles or marquees) or indirectly (for example company van used for deliveries during week and hired out at weekends), then they are not capital expenditure goods no matter how much they cost


I didn't know this!

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