Thanks everyone...
I am so grateful. Your answers have confirmed what I have read and I am assuming then, that if I claimed 75% of total purchase price as a capital allowance (allowing for the 25% personal use - and that's over-estimating, to be honest), then I should be ok. I did purchase it outright and intend to keep it for a long time as it is so economical compared to what I had before. It is also brilliant to drive - so easy and smooth - I won't ever go back to petrol or diesel. Thanks for all replies. Much appreciated.
Posted By: canarybirdie on April 23rd 2019 at 17:39:16
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
- Oh ok, obvs for cars. Vans it's 100% anyway. (n/m) (General Chat) - Men without hats, Apr 23, 17:10:06
- 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
- Thanks everyone... (General Chat) - canarybirdie, Apr 23, 17:39:16
- Couple of other things though.... (General Chat) - SimonOTBC, Apr 23, 17:00:11
- Sounds right, not sure about 100% if only vehicle though. (General Chat) - Men without hats, Apr 23, 16:51:51
- Yes, if you look at Hmrc website (General Chat) - archroy, Apr 23, 20:16:47
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