Sounds right, not sure about 100% if only vehicle though.

Son has gone self employed and was informed as his job is manual to get a small van rather than a car cause he could offset all buying and running costs against profit - rather than a car because its then only a percentage because of personal use. Back in the day when I started you could only claim a percentage (I think 25%) each year rather than all in year one - though I think this still may be an option.

Posted By: Men without hats on April 23rd 2019 at 16:51:51

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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