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Entering a phone number as start-up costs

DC
2024-01-27

Question

Dear Sir/Madam, I have just started as a sole proprietor and need a telephone for my company (for contacting customers and camera). I have entered this as start-up costs and not as an investment so that I can enter it all at once instead of writing it off over 3 years. Is that correct or should I change this cost to an investment?

I would say it depends on the amount. If the professional part is more than £500, I would consider it an investment.

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You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.

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