UK Fixed Assets

[mkaccountant]

We have a pick up truck at work (Toyota Hi-Lux) on an operating lease for the next 3 years and we have just purchased a permanent hood which fits over the open part on the back. The cost is approximately £1,500.

Am I correct that this hood can still be capitalised despite the vehicle being on operating lease?

 

[Counterofbeans]

Sure.

Depreciate it over the life of the lease and call it a day