Capital Allowances Webinar

16/02/2018 12:16:31
Our Capital Allowances webinar shows you how to claim tax relief when buying or improving vehicles and equipment for your business, click on the link below to register.

Capital Allowances for the Self-employed

This message was edited 2 times. Last update was at 29/06/2018 07:46:18


Capital Allowances Webinar

04/03/2019 13:47:47
When buying a van for bissness use what do I claim back??a percentage or do I use what I payed for it against what I’ve earns??

Re:Capital Allowances Webinar

04/03/2019 15:05:52

This would depend on whether you are using the cash basis method or the traditional accounting method.

If using the cash basis method you would claim the cost of the van back as an expense.

If using the traditional method then you can claim the cost of the van as a capital allowance.

I have given you a link to our capital allowances helpsheet to have a look at:

Capital allowances and balancing charges: HS252 Self Assessment helpsheet

You also need to take into account whether the van is being used also for personal use. If it is, you can still claim as stated, but you would only claim a proportional amount based on the business use only.