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Where Taxpayers and Advisers Meet

"Other Charges" and physical assets

Joined:Sun Feb 16, 2020 6:40 pm
"Other Charges" and physical assets

Postby Notme » Mon Apr 05, 2021 8:57 pm

Hi All,

I am currently filing my company accounts on HMRC, and would like some clarification on an issue I have in the P&L section.

In the "Other Charges" field (AC425) I need to put in expenses for the given period but omit any physical assets. We purchased some bearings, and timber to upgrade the company van so it can hold pallets. The amount for the upgrades was ~£350. These costs are not physical assets per say but they are used on a physical asset, and I am not entirely sure whether I should omit or include these costs in the "Other Charges" field.

Can someone please advise on this matter.

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