We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Car Leasing as an expense?
adrianr
Posts: 44 Forumite
in Cutting tax
I am currently employed full-time but I have 2nd rental income from a commerical property. As I only complete a short tax return form does anybody know if I can reduce my profit/tax by having a car lease and listing that as an expense? As I use it to check on the and receive the rent. Its not a company car as it not used for my main income, but would be used for commuting.
Any advice appreciated.
Adrian
Any advice appreciated.
Adrian
Ade
0
Comments
-
adrianr wrote:I am currently employed full-time but I have 2nd rental income from a commerical property. As I only complete a short tax return form does anybody know if I can reduce my profit/tax by having a car lease and listing that as an expense? As I use it to check on the and receive the rent. Its not a company car as it not used for my main income, but would be used for commuting.
Any advice appreciated.
Adrian
No, you can only claim the 40p/25p per business mile OR the proportion of the actual car costs, i.e. if 100 business miles, out of 10,000 total miles, then you may be able to claim 1% of the total car costs.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards