WATCH TO “COST”

WATCHES TO “COST” 1) SMART watches are argued to be used for the purpose of SMS, time keeping, navigation and other functions that are practical for business. However, unlike a mobile phone, a watch feels more “private” and therefore, in the worst case scenario, the tax office may want you to prove that you only used it for business purposes… 2) With luxury watches, oddly enough, this can be easier. Here, it does look on the face of it like a “representation”, which is not recognised as a tax expense by default. However, there are other types of “representations” that are recognised as a tax expense… I write more about this in my blog 🙂