self assessment tax question

[Bert365]

hey im self employed carpenter I purchase a van last June outright can I claim the whole thing as capital allowance or do I have the split it up over 3 years any advice would be gratful thank you guys

 

[clippedgull]

Sorry my office is closed right now. If you would like to call back we are open Monday - Friday 9-5.

 

[Gazwag]

If its a van then you can claim 100% under the Annual Investment Allowance rules

http://www.hmrc.gov.uk/manuals/camanual/CA23084.htm

 

[Sussex Nomad]

hey im self employed carpenter I purchase a van last June outright can I claim the whole thing as capital allowance or do I have the split it up over 3 years any advice would be gratful thank you guys

Do you not have an accountant? I'd have thought you may have being self employed. I can give you the name of mine although he is based in London.

 

[Bert365]

If its a van then you can claim 100% under the Annual Investment Allowance rules

http://www.hmrc.gov.uk/manuals/camanual/CA23084.htm

cheers for that help

 

[kingcole]

Dont need an accountant. It is all tax deductable, but not all in the same year.

You will need to check with HMRC for the exact figures, but I think its something like 50% of the price in the 1st year, 50% of whats left in the 2nd and similar in the 3rd.

Just make sure when you sell it, you get a receipt for a tenner!

 

[Gazwag]

Dont need an accountant. It is all tax deductable, but not all in the same year.

You will need to check with HMRC for the exact figures, but I think its something like 50% of the price in the 1st year, 50% of whats left in the 2nd and similar in the 3rd.

Just make sure when you sell it, you get a receipt for a tenner!

which is exactly why YOU need and accountant - completely wrong whether its the new rules or the old rules.

 

[ILOVEBHA]

This is totally the wrong advice as vans are 100% deductable under the annual investment Allowance.
I know as i am an accountant and i always believe it is best to have an accountant on board so you get the best advice etc.

Dont need an accountant. It is all tax deductable, but not all in the same year.

You will need to check with HMRC for the exact figures, but I think its something like 50% of the price in the 1st year, 50% of whats left in the 2nd and similar in the 3rd.

Just make sure when you sell it, you get a receipt for a tenner!

 

[Freddie Goodwin.]

Do what you like as unlikely anyone will ever check it!

 

[blue'n'white]

Do what you like as unlikely anyone will ever check it!

How very true that is !
I think they've given up checking ANY SA tax returns

 

[cardboard]

If you need a book-keeper, check out my signature. Its my wifes business, cheers