Registering review items as business expense?

[supervitallica]

Hey!

I'm running an affiliate site about a niche I like doing in my spare time.

When i want to review items, i want to review them myself and write down my experience instead of looking for reviews on the internet. Can i register the item as a business expense?

I will be using these items in my spare time too. Did you guys do something similar in the past?

 

[bumont]

Yes you should be able to claim them as a marketing asset/expense. If you're VAT registered you can also claim the VAT back. If you were ever looked into, you could just show a copy of the review and your site to prove that purchasing the item was necessary for the business.

 

[supervitallica]

Yes you should be able to claim them as a marketing asset/expense. If you're VAT registered you can also claim the VAT back. If you were ever looked into, you could just show a copy of the review and your site to prove that purchasing the item was necessary for the business.

Yes, that's what i thought. Thanks for your reply!

 

[patriotnews]

Hey!

I'm running an affiliate site about a niche I like doing in my spare time.

When i want to review items, i want to review them myself and write down my experience instead of looking for reviews on the internet. Can i register the item as a business expense?

I will be using these items in my spare time too. Did you guys do something similar in the past?

So, depends on where you are. I can provide information from the US perspective.
Yes, but then you have to sell them to yourself for personal use once you're done with them for business, otherwise they are business/company assets.
Sell them in bundles to yourself for $1, that will clear them off your assets, account for them throughout the process, and not mingle business/personal finances into a muddy tax ball.

 

[supervitallica]

So, depends on where you are. I can provide information from the US perspective.
Yes, but then you have to sell them to yourself for personal use once you're done with them for business, otherwise they are business/company assets.
Sell them in bundles to yourself for $1, that will clear them off your assets, account for them throughout the process, and not mingle business/personal finances into a muddy tax ball.

That makes sense. Thanks for the tip!