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Are domains tax deductible?

Labeled as question in Domain Selling and Domain Sales, started by redemo, Jul 12, 2021

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  1. redemo

    redemo Established Member

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    Second week doing domain name outbounding. Trying to find out if a business buys a domain name can they write off the tax or claim it back? Someone I think @noneisnone or @jhm or @Future Sensors or @Beezy (could be wrong and no way to check) mentioned it in the chat. Asking about United States, United Kingdom and European Union. Cheers.
     
    Last edited: Jul 12, 2021
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  2. Future Sensors

    Future Sensors 78% of human domainers will be replaced by robots Gold Account

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  3. redemo

    redemo Established Member

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    Looks like the answer is no in U.S.A. Slightly different in U.K. "If your company is a limited company you will need to check with Corporation Tax who will advise whether they costs are allowable. If you are not a limited company, then yes the cost of the domain names will be allowable and can be claimed as an expense and not a capital allowance." https://community.hmrc.gov.uk/forums/customerforums/expenses/b9c080f4-9831-eb11-8441-00155d3ba99e. Also a useful diagram for limited companies. https://www.att.org.uk/tax-treatment-software-website-costs. Cheers.

    [​IMG]
     
    Last edited: Jul 13, 2021

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