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Bass enquiry
One of my clients is a semi-professional musician. She plays in a number of orchestras ensembles and for shows.
Sometimes she gets paid but at other times she plays for pleasure or to make contacts who might in future give her paid work. She also does some instrumental teaching. This doesn’t provide her with enough income and she also does ad hoc jobs (ie delivery work).
All of the income she receives from playing and teaching is declared as a single source in her trade as a musician.
She has recently purchased a second-hand double bass for £10 000 – this is a high quality instrument which will probably last her a lifetime if looked after properly. It is within the de minimis amount so long-life asset treatment will not apply but should capital allowances be restricted for private use?
It...
