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Question asked by Dora - Aug 20, 2015

Hi there, My question is that I've got an invoice worth about £3000 for office equipment. I'd like to calc. depreciation however I'm not sure that the items can be depreciated as we bought 58 items (unit price £45). I think due to the low price per item I shouldn't calc. depn. What do you think? Thank you very much

response from Dalila Boinay
- Aug 24, 2015

Hi Dora,

Assets you purchase for your company, like computers or furniture, will lose their value over time, or in accounting terms ‘depreciate’.


During an accounting year, a figure of depreciation will be calculated which represents an approximation of the cost to your business of owning the asset.


For example, a computer expected to last three years might be written off on a 33.3% ‘straight line’ basis. This means its entire cost would be written off in equal amounts over a three year cycle.


Do not hesitate to speak with one of our advisors should you require any assistance from one of our vetted accountancy firms.


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