Storage Shed

Haggis

Hi - would really appreciate anyones help with this one please -
My client has bought a large shed to store his work tools in - should I treat this as an asset or include it in his normal business expenses for that year ?
many thanks

mini_schnauzer

What is the value of the large shed and how many years does your client think the shed will last for (temp or several years)

Answering these 2 questions will help you decide if it is to be an asset or expense.

Haggis

Hi - he purchased it for £529 - expect to last approx 5 years, thanks