FREE WORKBOOK
Tools and Equipment Register
What you own, what it cost, what you claimed on it, and what falls due when you sell it. The allowance is never the problem. The list is.
Join dozens who use this
Who this workbook is for
Trades who buy plant in busy months, pay for it on a card, and never write it down anywhere.
You are nowhere near the allowance and it does not matter
The Annual Investment Allowance is £1,000,000 a year. The worked register comes to £49,060, which is under five per cent of it. No trade of this size will ever run out of allowance, so the question is never whether you can claim. It is whether you remembered you bought the thing.
You sold something and nobody knows what was claimed on it
If you claimed the full cost and later sell it, the proceeds are taxable as a balancing charge, capped at what you claimed. That is not a penalty, it is the other half of having had the deduction up front. Three years on, the register is the only thing that tells you what the figure was.
Small tools get expensed and large ones get forgotten
Hand tools going through as expenses is usually fine. A digger bought in a busy fortnight and never recorded is not. Eight columns, one row per item, with the category and the year so the pattern of what you actually spend on plant is visible.
