Tax returns » buy and sell assets » Go to message
Hi Catherine

Thanks for your help,sorry its been a while ,but after your post I thought I had it clear,but now the time has arrived to fill in my tax form
the confusion has arrived again,the buying of the car not a problem in box 25,but how do i treat the selling of cars are they profit and shown in gross profit box 9 or in some other box ,by selling the cars I received a certain amount of money,this was far more then what I
can claim for buying the new car ie 18%,is this just straight forward profit and is taxable,if it helps the buying and selling of these vehicles involved amount less then £5000.
Tax returns » buy and sell assets » Go to message
From : Bazjay
Hello All

Just sold two vehicles from my business and bought one vehicle to take there place,just a bit confused
over were this transaction will be entered on my tax return,AIA this area states that cars are not covered in this area
Just to make things clear I have been a sole trader for over thirty years but after I went semi retired four years ago I now fill
in my tax return myself hence problem.