Sorry if there has already been a thread on this but I couldn't see one 
amongst the piles of cack on here.

Can I just claim a portion of the value of my 2008/2009 assets so as to 
maximise my £6,035 personal allowance?

For example: If I have a net profit of £15k and had bought business assets 
valued to the same £15k it would be a waste to use the full amount reducing 
my income to £0k when effectively £9k of it would reduce my tax liability to 
£0

thanks

On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
> Sorry if there has already been a thread on this but I couldn't see one
> amongst the piles of cack on here.
>
> Can I just claim a portion of the value of my 2008/2009 assets so as to
> maximise my £6,035 personal allowance?
>
> For example: If I have a net profit of £15k and had bought business assets
> valued to the same £15k it would be a waste to use the full amount reducing
> my income to £0k when effectively £9k of it would reduce my tax liability to
> £0
>
> thanks

yes

In article 
, 
PeterSaxton  writes
>On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
>> Sorry if there has already been a thread on this but I couldn't see one
>> amongst the piles of cack on here.
>>
>> Can I just claim a portion of the value of my 2008/2009 assets so as to
>> maximise my £6,035 personal allowance?
>>
>> For example: If I have a net profit of £15k and had bought business assets
>> valued to the same £15k it would be a waste to use the full amount reducing
>> my income to £0k when effectively £9k of it would reduce my tax liability to
>> £0
>>
>> thanks
>
>yes

Blimey - a sensible, topical thread on this ng.

Thought it had died a death.  Used to be a really great forum.


-- 
Jon Griffey FCCA CTA
Hackett Griffey
Chartered Certified Accountants & Registered Auditors
2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom

Tel (01440) 762024

www.hackettgriffey.com

See www.hackettgriffey.com/legal.htm for disclaimers

On 30 Oct, 12:42, Jon Griffey  wrote:
> In article
> ,
> PeterSaxton  writes
>
> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
> >> Sorry if there has already been a thread on this but I couldn't see one
> >> amongst the piles of cack on here.
>
> >> Can I just claim a portion of the value of my 2008/2009 assets so as to
> >> maximise my £6,035 personal allowance?
>
> >> For example: If I have a net profit of £15k and had bought business assets
> >> valued to the same £15k it would be a waste to use the full amount reducing
> >> my income to £0k when effectively £9k of it would reduce my tax liability to
> >> £0
>
> >> thanks
>
> >yes
>
> Blimey - a sensible, topical thread on this ng.
>
> Thought it had died a death.  Used to be a really great forum.
>
Jon, didn't you like my post on company numbers?

Thanks Peter

...since we are on the subject can I ask another?

If the assets purchased during the year were not bought outright but were 
instead on HP. Would I be allowed to write off  the full value of the asset 
against my profits or just the the paid up amount.

Thanks

"PeterSaxton"  wrote in message 
news:07a9fe91-7405-4645-91ad-d2b0d1898894@r5g2000yqb.googlegroups.com...
On 30 Oct, 12:42, Jon Griffey  wrote:
> In article
> ,
> PeterSaxton  writes
>
> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
> >> Sorry if there has already been a thread on this but I couldn't see one
> >> amongst the piles of cack on here.
>
> >> Can I just claim a portion of the value of my 2008/2009 assets so as to
> >> maximise my £6,035 personal allowance?
>
> >> For example: If I have a net profit of £15k and had bought business 
> >> assets
> >> valued to the same £15k it would be a waste to use the full amount 
> >> reducing
> >> my income to £0k when effectively £9k of it would reduce my tax 
> >> liability to
> >> £0
>
> >> thanks
>
> >yes
>
> Blimey - a sensible, topical thread on this ng.
>
> Thought it had died a death. Used to be a really great forum.
>
Jon, didn't you like my post on company numbers?

On 31 Oct, 14:35, "New Kid" <I'm...@work.com> wrote:
> Thanks Peter
>
> ...since we are on the subject can I ask another?
>
> If the assets purchased during the year were not bought outright but were
> instead on HP. Would I be allowed to write off  the full value of the asset
> against my profits or just the the paid up amount.
>
> Thanks
>
> "PeterSaxton"  wrote in message
>
> news:07a9fe91-7405-4645-91ad-d2b0d1898894@r5g2000yqb.googlegroups.com...
> On 30 Oct, 12:42, Jon Griffey  wrote:
>
>
>
> > In article
> > ,
> > PeterSaxton  writes
>
> > >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
> > >> Sorry if there has already been a thread on this but I couldn't see one
> > >> amongst the piles of cack on here.
>
> > >> Can I just claim a portion of the value of my 2008/2009 assets so as to
> > >> maximise my £6,035 personal allowance?
>
> > >> For example: If I have a net profit of £15k and had bought business
> > >> assets
> > >> valued to the same £15k it would be a waste to use the full amount
> > >> reducing
> > >> my income to £0k when effectively £9k of it would reduce my tax
> > >> liability to
> > >> £0
>
> > >> thanks
>
> > >yes
>
> > Blimey - a sensible, topical thread on this ng.
>
> > Thought it had died a death. Used to be a really great forum.
>
> Jon, didn't you like my post on company numbers?

Full value but are you sure it was HP?

In article 
, 
PeterSaxton  writes
>On 30 Oct, 12:42, Jon Griffey  wrote:
>> In article
>> ,
>> PeterSaxton  writes
>>
>> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
>> >> Sorry if there has already been a thread on this but I couldn't see one
>> >> amongst the piles of cack on here.
>>
>> >> Can I just claim a portion of the value of my 2008/2009 assets so as to
>> >> maximise my £6,035 personal allowance?
>>
>> >> For example: If I have a net profit of £15k and had bought business assets
>> >> valued to the same £15k it would be a waste to use the full amount 
>> >>reducing
>> >> my income to £0k when effectively £9k of it would reduce my tax 
>> >>liability to
>> >> £0
>>
>> >> thanks
>>
>> >yes
>>
>> Blimey - a sensible, topical thread on this ng.
>>
>> Thought it had died a death.  Used to be a really great forum.
>>
>Jon, didn't you like my post on company numbers?

Company numbers?  You mean your reply to the OP?

Absolutely nothing wrong with that at all.  Just bemoaning the fact that 
there aren't more such posts relevant to this ng.



-- 
Jon Griffey FCCA CTA
Hackett Griffey
Chartered Certified Accountants & Registered Auditors
2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom

Tel (01440) 762024

www.hackettgriffey.com

See www.hackettgriffey.com/legal.htm for disclaimers

On 2 Nov, 15:39, Jon Griffey  wrote:
> In article
> ,
> PeterSaxton  writes
>
>
>
>
>
> >On 30 Oct, 12:42, Jon Griffey  wrote:
> >> In article
> >> ,
> >> PeterSaxton  writes
>
> >> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
> >> >> Sorry if there has already been a thread on this but I couldn't see one
> >> >> amongst the piles of cack on here.
>
> >> >> Can I just claim a portion of the value of my 2008/2009 assets so as to
> >> >> maximise my £6,035 personal allowance?
>
> >> >> For example: If I have a net profit of £15k and had bought business assets
> >> >> valued to the same £15k it would be a waste to use the full amount
> >> >>reducing
> >> >> my income to £0k when effectively £9k of it would reduce my tax
> >> >>liability to
> >> >> £0
>
> >> >> thanks
>
> >> >yes
>
> >> Blimey - a sensible, topical thread on this ng.
>
> >> Thought it had died a death.  Used to be a really great forum.
>
> >Jon, didn't you like my post on company numbers?
>
> Company numbers?  You mean your reply to the OP?
>
> Absolutely nothing wrong with that at all.  Just bemoaning the fact that
> there aren't more such posts relevant to this ng.
>
> --
> Jon Griffey FCCA CTA
> Hackett Griffey
> Chartered Certified Accountants & Registered Auditors
> 2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom
>
> Tel (01440) 762024
>
> www.hackettgriffey.com
>
> Seewww.hackettgriffey.com/legal.htmfor disclaimers

I can't see it now but I mentioned that it's against Companies Act
2006 only to have the company number on the accounts cover page.
That's the normal place most accountants put the number.

In article 
, 
PeterSaxton  writes
>On 2 Nov, 15:39, Jon Griffey  wrote:
>> In article
>> ,
>> PeterSaxton  writes
>>
>>
>>
>>
>>
>> >On 30 Oct, 12:42, Jon Griffey  wrote:
>> >> In article
>> >> ,
>> >> PeterSaxton  writes
>>
>> >> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
>> >> >> Sorry if there has already been a thread on this but I couldn't see one
>> >> >> amongst the piles of cack on here.
>>
>> >> >> Can I just claim a portion of the value of my 2008/2009 assets so as to
>> >> >> maximise my £6,035 personal allowance?
>>
>> >> >> For example: If I have a net profit of £15k and had bought 
>> >> >>business assets
>> >> >> valued to the same £15k it would be a waste to use the full amount
>> >> >>reducing
>> >> >> my income to £0k when effectively £9k of it would reduce my tax
>> >> >>liability to
>> >> >> £0
>>
>> >> >> thanks
>>
>> >> >yes
>>
>> >> Blimey - a sensible, topical thread on this ng.
>>
>> >> Thought it had died a death.  Used to be a really great forum.
>>
>> >Jon, didn't you like my post on company numbers?
>>
>> Company numbers?  You mean your reply to the OP?
>>
>> Absolutely nothing wrong with that at all.  Just bemoaning the fact that
>> there aren't more such posts relevant to this ng.
>>
>> --
>> Jon Griffey FCCA CTA
>> Hackett Griffey
>> Chartered Certified Accountants & Registered Auditors
>> 2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom
>>
>> Tel (01440) 762024
>>
>> www.hackettgriffey.com
>>
>> Seewww.hackettgriffey.com/legal.htmfor disclaimers
>
>I can't see it now but I mentioned that it's against Companies Act
>2006 only to have the company number on the accounts cover page.
>That's the normal place most accountants put the number.

That's interesting.

Any idea what part of the Act says that?


-- 
Jon Griffey FCCA CTA
Hackett Griffey
Chartered Certified Accountants & Registered Auditors
2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom

Tel (01440) 762024

www.hackettgriffey.com

See www.hackettgriffey.com/legal.htm for disclaimers

On Nov 3, 10:20 am, Jon Griffey  wrote:
> In article
> ,
> PeterSaxton  writes
>
>
>
>
>
> >On 2 Nov, 15:39, Jon Griffey  wrote:
> >> In article
> >> ,
> >> PeterSaxton  writes
>
> >> >On 30 Oct, 12:42, Jon Griffey  wrote:
> >> >> In article
> >> >> ,
> >> >> PeterSaxton  writes
>
> >> >> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
> >> >> >> Sorry if there has already been a thread on this but I couldn't see one
> >> >> >> amongst the piles of cack on here.
>
> >> >> >> Can I just claim a portion of the value of my 2008/2009 assets so as to
> >> >> >> maximise my £6,035 personal allowance?
>
> >> >> >> For example: If I have a net profit of £15k and had bought
> >> >> >>business assets
> >> >> >> valued to the same £15k it would be a waste to use the full amount
> >> >> >>reducing
> >> >> >> my income to £0k when effectively £9k of it would reduce my tax
> >> >> >>liability to
> >> >> >> £0
>
> >> >> >> thanks
>
> >> >> >yes
>
> >> >> Blimey - a sensible, topical thread on this ng.
>
> >> >> Thought it had died a death.  Used to be a really great forum.
>
> >> >Jon, didn't you like my post on company numbers?
>
> >> Company numbers?  You mean your reply to the OP?
>
> >> Absolutely nothing wrong with that at all.  Just bemoaning the fact that
> >> there aren't more such posts relevant to this ng.
>
> >> --
> >> Jon Griffey FCCA CTA
> >> Hackett Griffey
> >> Chartered Certified Accountants & Registered Auditors
> >> 2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom
>
> >> Tel (01440) 762024
>
> >>www.hackettgriffey.com
>
> >> Seewww.hackettgriffey.com/legal.htmfordisclaimers
>
> >I can't see it now but I mentioned that it's against Companies Act
> >2006 only to have the company number on the accounts cover page.
> >That's the normal place most accountants put the number.
>
> That's interesting.
>
> Any idea what part of the Act says that?
>
I got the info from here

http://www.accountingweb.co.uk/anyanswers/company-number-disclosure

and it refers to this

http://www.companieshouse.gov.uk/about/policyDocuments/registrarsRules.pdf

In article 
, 
PeterSaxton  writes
>On Nov 3, 10:20 am, Jon Griffey  wrote:
>> In article
>> ,
>> PeterSaxton  writes
>>
>>
>>
>>
>>
>> >On 2 Nov, 15:39, Jon Griffey  wrote:
>> >> In article
>> >> ,
>> >> PeterSaxton  writes
>>
>> >> >On 30 Oct, 12:42, Jon Griffey  wrote:
>> >> >> In article
>> >> >> ,
>> >> >> PeterSaxton  writes
>>
>> >> >> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
>> >> >> >> Sorry if there has already been a thread on this but I 
>> >> >> >>see one
>> >> >> >> amongst the piles of cack on here.
>>
>> >> >> >> Can I just claim a portion of the value of my 2008/2009 
>> >> >> >>assets so as to
>> >> >> >> maximise my £6,035 personal allowance?
>>
>> >> >> >> For example: If I have a net profit of £15k and had bought
>> >> >> >>business assets
>> >> >> >> valued to the same £15k it would be a waste to use the full amount
>> >> >> >>reducing
>> >> >> >> my income to £0k when effectively £9k of it would reduce my tax
>> >> >> >>liability to
>> >> >> >> £0
>>
>> >> >> >> thanks
>>
>> >> >> >yes
>>
>> >> >> Blimey - a sensible, topical thread on this ng.
>>
>> >> >> Thought it had died a death.  Used to be a really great forum.
>>
>> >> >Jon, didn't you like my post on company numbers?
>>
>> >> Company numbers?  You mean your reply to the OP?
>>
>> >> Absolutely nothing wrong with that at all.  Just bemoaning the fact that
>> >> there aren't more such posts relevant to this ng.
>>
>> >> --
>> >> Jon Griffey FCCA CTA
>> >> Hackett Griffey
>> >> Chartered Certified Accountants & Registered Auditors
>> >> 2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom
>>
>> >> Tel (01440) 762024
>>
>> >>www.hackettgriffey.com
>>
>> >> Seewww.hackettgriffey.com/legal.htmfordisclaimers
>>
>> >I can't see it now but I mentioned that it's against Companies Act
>> >2006 only to have the company number on the accounts cover page.
>> >That's the normal place most accountants put the number.
>>
>> That's interesting.
>>
>> Any idea what part of the Act says that?
>>
>I got the info from here
>
>http://www.accountingweb.co.uk/anyanswers/company-number-disclosure
>
>and it refers to this
>
>http://www.companieshouse.gov.uk/about/policyDocuments/registrarsRules.pdf


Must admit I was unaware of this.

However the rules seem to include amongst the documents 'abbreviated 
accounts'  and I would have thought that the cover page would constitute 
part thereof.


-- 
Jon Griffey FCCA CTA
Hackett Griffey
Chartered Certified Accountants & Registered Auditors
2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom

Tel (01440) 762024

www.hackettgriffey.com

See www.hackettgriffey.com/legal.htm for disclaimers

On 5 Nov, 11:09, Jon Griffey  wrote:
> In article
> ,
> PeterSaxton  writes
>
>
>
>
>
> >On Nov 3, 10:20 am, Jon Griffey  wrote:
> >> In article
> >> ,
> >> PeterSaxton  writes
>
> >> >On 2 Nov, 15:39, Jon Griffey  wrote:
> >> >> In article
> >> >> ,
> >> >> PeterSaxton  writes
>
> >> >> >On 30 Oct, 12:42, Jon Griffey  wrote:
> >> >> >> In article
> >> >> >> ,
> >> >> >> PeterSaxton  writes
>
> >> >> >> >On 29 Oct, 23:55, "New Kid" <I'm...@work.com> wrote:
> >> >> >> >> Sorry if there has already been a thread on this but I
> >> >> >> >>see one
> >> >> >> >> amongst the piles of cack on here.
>
> >> >> >> >> Can I just claim a portion of the value of my 2008/2009
> >> >> >> >>assets so as to
> >> >> >> >> maximise my £6,035 personal allowance?
>
> >> >> >> >> For example: If I have a net profit of £15k and had bought
> >> >> >> >>business assets
> >> >> >> >> valued to the same £15k it would be a waste to use the full amount
> >> >> >> >>reducing
> >> >> >> >> my income to £0k when effectively £9k of it would reduce my tax
> >> >> >> >>liability to
> >> >> >> >> £0
>
> >> >> >> >> thanks
>
> >> >> >> >yes
>
> >> >> >> Blimey - a sensible, topical thread on this ng.
>
> >> >> >> Thought it had died a death.  Used to be a really great forum.
>
> >> >> >Jon, didn't you like my post on company numbers?
>
> >> >> Company numbers?  You mean your reply to the OP?
>
> >> >> Absolutely nothing wrong with that at all.  Just bemoaning the fact that
> >> >> there aren't more such posts relevant to this ng.
>
> >> >> --
> >> >> Jon Griffey FCCA CTA
> >> >> Hackett Griffey
> >> >> Chartered Certified Accountants & Registered Auditors
> >> >> 2 Mill Road, Haverhill, Suffolk, CB9 8BD, United Kingdom
>
> >> >> Tel (01440) 762024
>
> >> >>www.hackettgriffey.com
>
> >> >> Seewww.hackettgriffey.com/legal.htmfordisclaimers
>
> >> >I can't see it now but I mentioned that it's against Companies Act
> >> >2006 only to have the company number on the accounts cover page.
> >> >That's the normal place most accountants put the number.
>
> >> That's interesting.
>
> >> Any idea what part of the Act says that?
>
> >I got the info from here
>
> >http://www.accountingweb.co.uk/anyanswers/company-number-disclosure
>
> >and it refers to this
>
> >http://www.companieshouse.gov.uk/about/policyDocuments/registrarsRule...
>
> Must admit I was unaware of this.
>
> However the rules seem to include amongst the documents 'abbreviated
> accounts'  and I would have thought that the cover page would constitute
> part thereof.
>
VT Software have published the following:

"From 1 October 2009, new rules come into force governing where the
company number should be placed on a set of full or abbreviated
accounts filed with Companies House. The rules state the the company
number must appear on at least one of the following:

Profit and loss account
Balance sheet
Directors report
Directors remuneration report
Auditors report
Wow! The cover page is not listed above!

This new requirement is buried away on page 38 of the Registrars
rules, and came as a bit of a surprise to VT Software when a few users
mentioned it on 1 October. As far as VT is aware, this change was not
publicised in any way.

VT took the matter up with their contacts at Companies House who said
that it was not their direct intention to exclude the Cover page from
the above list, but they unable to explicitly include it as it is not
a document that one is legally obliged to file! They did confirm that
they would not reject accounts, at least for the time being, that
showed the company number only on the cover page.

VT Software has made representations to Companies House suggesting
that the Registrars rules be changed so that a cover page can be
considered as an integral part of the accounts and thus continues to
be a sufficient place to show the company number."

In theory a company who didn't want people to see their accounts could
publish some massive tomb with the required documents hidden away
among the pages so I suppose technically accountants shouldn't even
include a cover page!

"PeterSaxton" wrote
> ... The rules state the the company number
> must appear on at least one of the following:
>
> Profit and loss account
> Balance sheet
> Directors report
> Directors remuneration report
> Auditors report
> Wow! The cover page is not listed above!

Hmmm.  Do all the listed docs need to be on only one page?

If multi-page docs are allowed, then what if the first page
of that particular doc looks awfully like a cover page... ?!!

On 7 Nov, 11:59, "Tim"  wrote:
> "PeterSaxton" wrote
>
> > ... The rules state the the company number
> > must appear on at least one of the following:
>
> > Profit and loss account
> > Balance sheet
> > Directors report
> > Directors remuneration report
> > Auditors report
> > Wow! The cover page is not listed above!
>
> Hmmm.  Do all the listed docs need to be on only one page?

No you can have more than one page.
>
> If multi-page docs are allowed, then what if the first page
> of that particular doc looks awfully like a cover page... ?!!

If it looked so much like a cover page without looking at all like one
of the other documents then it would be a cover page. Walks like a
duck ...

> > "PeterSaxton" wrote
> >> ... The rules state the the company number
> >> must appear on at least one of the following:
> >
> >> Profit and loss account
> >> Balance sheet
> >> Directors report
> >> Directors remuneration report
> >> Auditors report
> >> Wow! The cover page is not listed above!
> >
> "Tim" wrote:
> > Hmmm. Do all the listed docs need to be on only one page?
>
"PeterSaxton" wrote
> No you can have more than one page.
>
> "Tim" wrote:
> > If multi-page docs are allowed, then what if the first page
> > of that particular doc looks awfully like a cover page... ?!!
>
"PeterSaxton" wrote
> If it looked so much like a cover page without
> looking at all like one of the other documents then
> it would be a cover page. Walks like a duck ...

Are you saying that, if someone created (say) a multi-page
P&L a/c where the first page looked like a cover page,
then that first page can't be part of that multi-page P&L a/c?

What if *all* of the listed documents had a first page looking like
a cover page - which of those first pages would be the cover page
for the entire set of documents, rather than for the single doc?
And what would the other first pages be, if not the cover page for the set?!

On Nov 7, 3:41 pm, "Jane"  wrote:
> > > "PeterSaxton" wrote
> > >> ... The rules state the the company number
> > >> must appear on at least one of the following:
>
> > >> Profit and loss account
> > >> Balance sheet
> > >> Directors report
> > >> Directors remuneration report
> > >> Auditors report
> > >> Wow! The cover page is not listed above!
>
> > "Tim" wrote:
> > > Hmmm. Do all the listed docs need to be on only one page?
>
> "PeterSaxton" wrote
> > No you can have more than one page.
>
> > "Tim" wrote:
> > > If multi-page docs are allowed, then what if the first page
> > > of that particular doc looks awfully like a cover page... ?!!
>
> "PeterSaxton" wrote
> > If it looked so much like a cover page without
> > looking at all like one of the other documents then
> > it would be a cover page. Walks like a duck ...
>
> Are you saying that, if someone created (say) a multi-page
> P&L a/c where the first page looked like a cover page,
> then that first page can't be part of that multi-page P&L a/c?
>
I'm saying that if the "multi-page P&L a/c" had a "first page" that
looked like a cover page then that "first page" would be a cover page
and not a P&L a/c.

> What if *all* of the listed documents had a first page looking like
> a cover page - which of those first pages would be the cover page
> for the entire set of documents, rather than for the single doc?
> And what would the other first pages be, if not the cover page for the set?!

They would all be cover pages.

I don't think putting a company number on one or more of the listed
documents is too much of a hardship. I was preparing a set of accounts
using accounting software that didn't take account of the new
requirements and I simply inserted (company number: xxxxxxxx) in
brackets after the word "company" in the balance sheet. An alternative
is to have the company number as part of the header or footer for each
page. I'm sure my accounting software will come up with a solution
very soon and if it seems reasonable I will go with what they do but
if I don't like their solution I will adjust my templates.