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Company Vehicles and claiming AIA

10/01/2018 15:26:43
Bazjay
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Joined: 02/01/2018 10:55:08
Messages: 2

10/01/2018 15:21:51
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Hello I,am new to this forum,so not sure if this is the right area to post.
I have been a sole trader for some thirty years,but have only recently started to fill in my tax return myself
Problem : Have recently sold two company vehicles and bought one other vehicle to take there place.
How do I now enter them on my tax return form,I,am a bit confused with AIA so unsure were this transaction
will be entered on the form.

Thanks Bazjay
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Company Vehicles and claiming AIA

10/01/2018 16:44:51
Hi there. As long as you can work out the AIA for the year (i have attached a link below to give more information on this) you would submit this under the self-employment section of the return under capital allowances.

The link for AIA is: https://www.gov.uk/government/publications/capital-allowances-and-balancing-charges-hs252-self-assessment-helpsheet/hs252-capital-allowances-and-balancing-charges

Please scroll down to the section with heading "balancing charge"

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