Logging Depreciation on MTD subscritption

Question asked by Peter Evans 5 days ago

How do I log total asset depreciation on the basic sole trader subscription.

Thanks

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2 Replies

Hi Peter,

Depreciation is not an allowable expense for tax purposes and will be automatically disallowed on quarterly updates. Capital allowances can be claimed on the MTD Tax return after the tax year ends. If you want to record depreciation for your own tracking purposes, this can be added via Tools > Journals.

Tommy

5 days ago

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