Paying for your next Mac

The cost of a new Mac is a lot to find all at once.

Subject to credit score, Apple UK offers two years’ 0% finance on most purchases over £299 via Barclays. Monthly payments are shown below the price of each configuration at apple.com/uk. A £1,499 MacBook Pro 13-inch, for example, costs £62.46 per month for 24 months. You can choose a shorter period. A cost-effective option.

Buying elsewhere? A personal loan is probably the cheapest way to spread the cost, especially with rates pandemically low, and will be simplest to get from your own bank. Online banking may show an automatically calculated loan offer. Paying by credit card is flexible, but will rack up interest. The PayPal interest rate is 19.9%, but with the first four months free (effectively 0% finance) on purchases over £99: see bit.ly/paypalcreditapp.

If you’re a sole trader or limited company, you can deduct the entire cost of equipment bought solely for business use (excluding VAT) as a capital allowance on your next tax return. If you’re VAT-registered, you can also claim back the VAT on your next VAT return. This facility is normally withdrawn if you’re on the Flat Rate Scheme, but you’re allowed to reclaim the VAT on one capital purchase per year if it exceeds £2,000 (including VAT). That’s likely if you’re buying a new Mac, and accessories bought at the same time from the same supplier count: see bit.ly/govukcapexpend.

Be aware that some used and refurbished vendors, as well as private second-hand sellers, aren’t VAT-registered, so the purchase price won’t include any VAT to claim back. This is often stated in their terms and conditions or eBay blurb, so buyer beware.