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Are automated external defibrillators fully tax dedutable

Customer Question

Are automated external defibrillators fully tax dedutable
Submitted: 3 years ago.
Category: Tax
Expert:  bigduckontax replied 3 years ago.
Hello, I'm Keith and happy to help you with your question.

Are you referring to VAT or other taxes? I need your reply before I can respond to your question.
Customer: replied 3 years ago.

Hi,


I need to know if the cost is tax deductible against profits.


I understand that if I lease the AED I can deduct from tax on profits.


Kevin

Expert:  bigduckontax replied 3 years ago.
Perfectly correct Kevin. If the AED is required wholly and exclusively for your business then its lease charges may be set against profits thus reducing your tax exposure. The term 'wholly and exclusively' is the standard test for tax deductible expenses.
Customer: replied 3 years ago.

Hi Keith,


 


What if I outright purchased AED rather than leased?


 


Kevin

Expert:  bigduckontax replied 3 years ago.

Kevin, not quite the same, it would be classed as an item of plant and machinery attracting capital allowances instead of being set against profits. As the Annual Investment Allowance is currently 100% and is set against profits after the trading balance has been struck the result is the same, the profit level is reduced, but this time by slightly more as you have spent more having bought the item outright.

bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3609
Experience: FCCA FCMA CGMA ACIS
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Expert:  bigduckontax replied 3 years ago.
Thank you for your support.

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