Yes it is only payable when you sell. But that assumes you want to keep it. A lot of large test gear purchases on the second hand market are "single job" purchases (same in IT) to solve a specific problem and then it gets tossed. If you throw £1000 on something and someone replaces it with something worth £8000, then you've got a problem.
If you dispose of it, it affects your CGT liability on other investment incomes so for example if you want to liquidate share capital up to your limit you end up getting shafted for higher rate (20%) CGT just by disposing of this in the same financial year.
If you leave it sitting around, you're down your initial £1000 capital in the short term which was fair to expect a quick return on.
The best outcome here is if they buy it back off you for the initial capital and lease you an equivalent piece of kit for a trivial amount of a month for 3 years, then they dispose of it.
This is why the test gear leasing industry is pretty good. The financial (and maintenance) liability is pretty bad on large bits of expensive stuff.
Did the letter(s) received reference specific serial number or did they only refer to the units by model number? Just curious.
but I can tell you that at least three of the letters contained an addendum on a 2nd sheet of paper that listed the model and serial number of the item(s) that they wanted back
Did the letter(s) received reference specific serial number or did they only refer to the units by model number? Just curious.
I'm about 4 pages behind so someone may have already answered this but I can tell you that at least three of the letters contained an addendum on a 2nd sheet of paper that listed the model and serial number of the item(s) that they wanted back. This is not an attempt to re-acquire every 34401a out there. It is a number of different models and types of TE and very specific serial numbers. Most of you are out of luck or off the hook, depending on your viewpoint.
Did the letter(s) received reference specific serial number or did they only refer to the units by model number? Just curious.
I'm about 4 pages behind so someone may have already answered this but I can tell you that at least three of the letters contained an addendum on a 2nd sheet of paper that listed the model and serial number of the item(s) that they wanted back. This is not an attempt to re-acquire every 34401a out there. It is a number of different models and types of TE and very specific serial numbers. Most of you are out of luck or off the hook, depending on your viewpoint.
Quotebut I can tell you that at least three of the letters contained an addendum on a 2nd sheet of paper that listed the model and serial number of the item(s) that they wanted back
Not in mine. My addendum lists only items, purchase dates and lot numbers. Lot numbers are Outback's inventory thing (as I understand).
E.g. a fresh listing from them: "G157040 Siemens Simatic bla-bla-bla" - the number I'm talking about is G157040 here.
My ignorant quibble was with the concept that if (in your example) you depreciated the asset to zero and then sold it for £8000, the depreciation was irrelevant w.r.t. CGT. Accountancy tricks like depreciation may be useful for other purposes, of course.
A classic example of the latter was that "Thatcher" noticed that the electricity plant and grid had depreciated to near zero in value (and hence would need replacing), and sold it for that amount. The purchasers looked at the actual condition, saw that it was good for a few more decades with minimal investment, and sniggered amongst themselves at the foolishness of the sale.
My ignorant quibble was with the concept that if (in your example) you depreciated the asset to zero and then sold it for £8000, the depreciation was irrelevant w.r.t. CGT. Accountancy tricks like depreciation may be useful for other purposes, of course.
A classic example of the latter was that "Thatcher" noticed that the electricity plant and grid had depreciated to near zero in value (and hence would need replacing), and sold it for that amount. The purchasers looked at the actual condition, saw that it was good for a few more decades with minimal investment, and sniggered amongst themselves at the foolishness of the sale.
You can depreciate it to zero and sell it for £8000 but you better make sure there was no paper trail for it and that £8k gets used on non asset purchases like food, restaurants and incidentals. If you accidentally chuck it on the street after depreciation, then your other personality drags it in and sells it on eBay using a personal account, HMRC will be on you like a seagull on chips. HMRC have access to eBay for ref.
Depreciation officially only works if it’s a business assets as well. If you bought something for personal interest and it wasn’t used in the line of work then depreciating is not allowed. You pay the gains on the sold value. There are exceptions on some items (cars mainly)
Indeed. You just get buggered for inheritance tax instead (this is a battle I have already fought once)
A good reference to HMRC is the dystopian state in the film “Brazil”
It is a specific list of equipment, and it's entirely possible that not all equipment we're trying to get back has a serial number.
It is a specific list of equipment, and it's entirely possible that not all equipment we're trying to get back has a serial number.Internal use/prototype equipment perhaps? Firmware that includes debug symbols might come under the "IP" or "Trade secret" category.
There is no excuse for not replying to communications from an affected customer though.
There is a simple explanation for missing serial numbers.
Of course Keysight knows them. What they don't know is for items of the same model which eBay customer got which.
For example: Let's say the batch they concerned with had three 34401A DMMs in it. They know I've got one (), but they don't know which of those 3. Thus they cannot provide me with the serial number.
It is a specific list of equipment, and it's entirely possible that not all equipment we're trying to get back has a serial number.Internal use/prototype equipment perhaps? Firmware that includes debug symbols might come under the "IP" or "Trade secret" category.
What the hell is going on?!?!
I got (and deleted) a letter from ?you? via email that this item is being " seek your assistance with the tracing and retrieval of certain equipment that contains Keysight intellectual property"
I'm laughing because how does a BK instrument have Keysight IP?
I don't know what the hell you're trying to pull; do I need to report you to ebay?
Or is this another fraud attempt?
Sorry for any inconvenience this is causing you. We are cooperating with Keysight in an attempt to locate some material that was sent to us to sell by one of our suppliers. If you could respond to Keysight, and let them know if you still have the item in question, that would be much appreciated. I understand that it is not a Keysight system, but they are still inquiring about it.
This is timely
https://www.nextgov.com/cybersecurity/2019/02/navy-needs-2-tons-storage-devices-burned-ash/154629/
I contacted "outback" seller on ebay via their messaging system:QuoteWhat the hell is going on?!?!
I got (and deleted) a letter from ?you? via email that this item is being " seek your assistance with the tracing and retrieval of certain equipment that contains Keysight intellectual property"
I'm laughing because how does a BK instrument have Keysight IP?
I don't know what the hell you're trying to pull; do I need to report you to ebay?
Or is this another fraud attempt?
Admittedly frustrated; and their reply was less than helpful.QuoteSorry for any inconvenience this is causing you. We are cooperating with Keysight in an attempt to locate some material that was sent to us to sell by one of our suppliers. If you could respond to Keysight, and let them know if you still have the item in question, that would be much appreciated. I understand that it is not a Keysight system, but they are still inquiring about it.
Yeah; sorry... I've already spent more time the I needed to get that response.
I also replied to the paralegal... telling them "Sorry; what?"
Simply put; nothing here makes me think this is legit as *I* had to contact them and nothing has been provided as evidence.
Not my issue. Not my problem.