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Can a scooter be claimed as an expense?
c19v81
Posts: 2 Newbie
in Cutting tax
Hello forum, I am new to self employment and have been looking in to what type of things can be claimed as an expense come the end of this tax year. I stumbled across an article on the guardian that states:
Get On, a campaign group set up by motorbike and scooter manufacturers to promote two-wheeled travel, says it has identified a change to the Finance Act which means self-employed riders buying a bike solely for business use can deduct 100% of its cost from their taxable profits by claiming it as an annual investment on their tax return.
I have had enough of the terrible bus service I use and was considering getting myself a scooter to travel to work. I have no intention of using it for pleasure, but that could change after I get one. If I used it for say 95% business can I claim 95% of the cost?
It sounds too good to be true, so I wondered if anyone with experience could shed some light on the situation. Many thanks
Get On, a campaign group set up by motorbike and scooter manufacturers to promote two-wheeled travel, says it has identified a change to the Finance Act which means self-employed riders buying a bike solely for business use can deduct 100% of its cost from their taxable profits by claiming it as an annual investment on their tax return.
I have had enough of the terrible bus service I use and was considering getting myself a scooter to travel to work. I have no intention of using it for pleasure, but that could change after I get one. If I used it for say 95% business can I claim 95% of the cost?
It sounds too good to be true, so I wondered if anyone with experience could shed some light on the situation. Many thanks
0
Comments
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the extract you quote relates to couriers with 100% business use!
however, a scooter is no different to a car. If you are self employed you have a choice:
a) claim for the purchase costs and use but adjust the claim so it only relates to business use. Whether your "travel to work" is actually nothing more than ordinary commuting looks suspect given what you have written - more details required....
or
b) you claim the "simplified expenses" method, ie the mileage rate (again for genuine business travel only)0 -
Thanks for the reply, sorry for not giving more information.
I am self employed and travel to sites I am required to work at, this can be one site for a while, or multiple sites in a short space of time. I do all my admin at home, invoices, documenting my hours worked etc, so assumed this was my base and allows me to claim for some travel?
Like I said I am new to being self employed and initially did not even consider claiming any expenses until I decided to find out how to register for tax returns and discovered some expense claims information. I am just trying to educate myself to what I am entitled to, so if the travel costs are not available for my situation so be it.
It would be nice though, of course
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establishing whether you are commuting or whether you are undertaking genuine business travel to a client depends on a wide range of factors
undertaking some admin at home does is significant, but is not the only factor making home your place of business
what is the nature of your business?
what work do you perform at client sites?
have you read:
http://jf-financial.co.uk/2015/12/17/self-employed-travel-expenses/
http://www.litrg.org.uk/tax-guides/self-employment/working-out-profits-losses-and-capital-allowance/how-do-i-work-out-my
https://www.gov.uk/simpler-income-tax-simplified-expenses/overview
https://www.gov.uk/simpler-income-tax-simplified-expenses/vehicles-0
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