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Could 2 vehicles be put through the books? accounts
lovinit
Posts: 131 Forumite
in Cutting tax
my oh has his own business and has a van that he had a loan for so gets the interest allowance
he could do with having a second vehicle (king cab?) for collecting materials pulling trailer etc on contract/hire
question is could both vehicles be put through the books and would this be the best way? when he isnt using it i would drive it! it would have the company advertising on:rolleyes:
thanks for any input
he could do with having a second vehicle (king cab?) for collecting materials pulling trailer etc on contract/hirequestion is could both vehicles be put through the books and would this be the best way? when he isnt using it i would drive it! it would have the company advertising on:rolleyes:
thanks for any input
0
Comments
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Yes, no problem, BUT, only the proportion of business mileage is allowable. So if 75% of the mileage for vehicle 1 and 50% of the mileage for vehicle 2 is legitimate business use, then only 75% of the costs of 1 and 50% of the costs of 2 is allowable as an expense against taxable profits.0
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