New iPads Tomorrow??

No new iPads?

I don't need a Pro, the Air is enough but I don't want to buy it if it's going to replaced/EOL soon.

EDIT, just new iPad, is it the old Air?
 
I don't have one at the moment. I almost bought the latest Air last month but my mate told me not to as new ones are out this month. I just need a walk around the house type tablet, nothing Pro required. May order the new one, shame basic storage isn't 64GB though.
 
Irish_Tom said:
I've been following Mac Rumours for weeks looking for a hint of new iMacs but I don't think they'll be announced until next month.

I had hoped to sneak a purchase in before 5th April but I'm not going to buy 'old tech' just to reduce my tax bill when the new stuff is just around the corner.
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Can you explain this bit to me please? I assume you're a Limited Company contractor? If you buy an iMac for say GBP2,001, you can deduct the VAT saving you GBP333.50, I get that. But reduce your tax bill? It won't reduce your Corp Tax bill as capital purchases aren't deductible in that manner are they? Capital purchase + depreciation I get. If something is expected to last less than a year I also get you can expense and not capital purchase.

If you're self employed on a cash accounting basis are you just using allowable expenses?

Sorry if I sound like I'm challenging you, I'm interested to hear on how this actually works, and the context.

//Edited to add...I bored myself writing that :)
 
MacRS4 said:
Can you explain this bit to me please? I assume you're a Limited Company contractor? If you buy an iMac for say GBP2,001, you can deduct the VAT saving you GBP333.50, I get that. But reduce your tax bill? It won't reduce your Corp Tax bill as capital purchases aren't deductible in that manner are they? Capital purchase + depreciation I get. If something is expected to last less than a year I also get you can expense and not capital purchase.

If you're self employed on a cash accounting basis are you just using allowable expenses?

Sorry if I sound like I'm challenging you, I'm interested to hear on how this actually works, and the context.

//Edited to add...I bored myself writing that :)
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Corporation tax is calculated on profits which is the money left over after allowable deductions for salary, expenses etc. The iMac would be an allowable expense if he uses it for his company, therefore his corporation tax would be reduced. I wouldn't say a computer could be categorised as a capital purchase as it is not an investment, but that is open to interpretation as HMRC don't publish any definitive figures.
 
Not sure what to do now...

I'm in the market for an iPad upgrade - Should I buy now, or will this bezel-less iPad be released this year...?

After reading Daring Fireball about the rumoured iPad, I am considering just going for the upgrade now.
 
ChrisD. said:
Corporation tax is calculated on profits which is the money left over after allowable deductions for salary, expenses etc. The iMac would be an allowable expense if he uses it for his company, therefore his corporation tax would be reduced. I wouldn't say a computer could be categorised as a capital purchase as it is not an investment, but that is open to interpretation as HMRC don't publish any definitive figures.
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That's what I originally thought, but got guidance from my accountant that anything beyond a year's use (I think, may have been 2), should be considered a capital purchase and is subject to depreciation rather than capital deduction?

Dunno. Curious. Must admit I do wonder what I actually pay my accountant for. My accounts are beyond easy, would be a doddle to do myself.
 
MacRS4 said:
If you're self employed on a cash accounting basis are you just using allowable expenses?
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I'm a sole trader (freelance graphic designer) and as ChrisD says, it would be an allowable expense set against my pre-tax profits. I'm not VAT registered so I'll still have to pay VAT.
 
MacRS4 said:
That's what I originally thought, but got guidance from my accountant that anything beyond a year's use (I think, may have been 2), should be considered a capital purchase and is subject to depreciation rather than capital deduction?

Dunno. Curious. Must admit I do wonder what I actually pay my accountant for. My accounts are beyond easy, would be a doddle to do myself.
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Mine is just bookkeeping, they aren't great for tax advise. You'd have to speak to a tax advisor for that. I live with a contractor and last year we were with different accountants. We sent in the same questions, got back two different answers. Go figure.
 
Captain Chaos said:
I'm the same as you Marky,

Want to upgrade and was going for the large iPad pro but may hang fire for a bit??? Decisions, decisions.
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Have a read of the Daring Fireball article I linked - He makes some good points. I do wonder if we could be waiting a little while (Perhaps even after the new iPhone) for the rumoured iPad. I would normally be seeing part drops by now if it was anywhere close to dropping.

Then again, we still have the possibility of a keynote in April... Tricky one to call :p
 
Irish_Tom said:
I'm a sole trader (freelance graphic designer) and as ChrisD says, it would be an allowable expense set against my pre-tax profits. I'm not VAT registered so I'll still have to pay VAT.
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That makes sense - thanks :)

I think I'm inclined to deduct the whole lot. It seems most others are doing just that.
 
I see the new iPad will be available for pre-order on Friday. Doesn anyone know if the iPad Air 2 will still be available in store today or tomorrow? I have to get one before Saturday as a present. It's not for me or from me, but for someone else (the specs of the new one won't make any difference to them), and I have to have one on Saturday.
 
Irish_Tom said:
I'm a sole trader (freelance graphic designer) and as ChrisD says, it would be an allowable expense set against my pre-tax profits. I'm not VAT registered so I'll still have to pay VAT.
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Wow, that is rather interesting, when we queried such matters we were told it would be a capital purchase and subject to depreciation.
Rather than an allowable expense.
Was this determination made on value? or on your specific jobrole?
 
Hikari Kisugi said:
Wow, that is rather interesting, when we queried such matters we were told it would be a capital purchase and subject to depreciation.
Rather than an allowable expense.
Was this determination made on value? or on your specific jobrole?
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Are you submitting your self-assessment on cash basis accounting?

My turnover is relatively small, I don't have any stock and I don't qualify for automatic VAT registration, so I can do it all on a cash basis.

From the HRMC website said:
Examples of allowable business expenses if you’re using cash basis are:
  • day to day running costs, eg electricity, fuel
  • admin costs, eg stationery
  • things you use in your business, eg machinery, computers, vans
  • interest and charges up to £500, eg interest on bank overdrafts
  • buying goods for resale
Click to expand...
 
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