Self-assessment advice please...

I want to submit my 18-19 tax return to get it out of the way but I am stuck over one thing. If any Wrather can help I will be hugely grateful - thanks.

In January I bought an electric car to reduce my business expenses as I travel a lot for my work. I use it about 75-80% for business miles and the rest for personal use. Am I right in thinking that I can claim the car purchase as a capital expense and, if so, that in the first year of its purchase I can claim for all of the outlay? I have read a lot about it but the more I read the more confused I become!

Thanks in advance :)

Posted By: canarybirdie on April 23rd 2019 at 16:34:08

Message Thread

Self-assessment advice please... (General Chat) - canarybirdie, Apr 23, 16:34:08
- Yes, if you look at Hmrc website (General Chat) - archroy, Apr 23, 20:16:47
  - I assumed he was a sole trader given this is his tax return (General Chat) - SimonOTBC, Apr 23, 22:32:31
- Get some proper advice (General Chat) - Old Man, Apr 23, 19:48:30
  - You’re over complicating it Old Man (General Chat) - SimonOTBC, Apr 23, 22:36:46
- I think the answer is yes (General Chat) - SimonOTBC, Apr 23, 16:40:58
  - Sounds right, not sure about 100% if only vehicle though. (General Chat) - Men without hats, Apr 23, 16:51:51
    - And remember cars are taxable as assets, vans aren’t. (n/m) (General Chat) - archroy, Apr 23, 20:19:21
    - The 100% allowance is for ultra low emissions only (General Chat) - SimonOTBC, Apr 23, 17:02:21
      - Oh ok, obvs for cars. Vans it's 100% anyway. (n/m) (General Chat) - Men without hats, Apr 23, 17:10:06
        
        Nephew has bought a new tranny and got the full amount. (n/m) (General Chat) - Men without hats, Apr 23, 18:49:04
        
        It might have changed but it’s only low emissions vans that get 100% in year 1 (General Chat) - SimonOTBC, Apr 23, 17:25:00
  - Just did a bit of googling and I’m pretty certain what I’ve said is right (n/m) (General Chat) - SimonOTBC, Apr 23, 16:46:51
    - Couple of other things though.... (General Chat) - SimonOTBC, Apr 23, 17:00:11
      - Thanks everyone... (General Chat) - canarybirdie, Apr 23, 17:39:16
        
        This also assumes you are in fact a sole trader (n/m) (General Chat) - SimonOTBC, Apr 23, 22:37:38

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