Sole-Trader Van / AIA / WDA question.

Mark_Roberts

Hi guys, I've run my own business as a sole-trader for the last 15 years, but have taken an employed job recently! :j

My question is, previously I used to claim all the van expenses against my business, bought it for £11k in approx 2013 and claimed approx £5k one year against AIA, and have claimed the remaining balance against WDA for the remaining years.

Now i'm employed, my private self-employed work is winding down. Do I / should I, keep a mileage log of my self-employed work and continue to claim a percentage of the van expenses, say 10% for the sake of this post. Does that mean i would only claim 10% of the outstanding balance of the WDA?

Or could I transfer the van to myself somehow and settle the WDA, and just then claim the 45p / Mile for any private work i do.

Hope that lot makes some sense, Thanks!

00ec25

as you have claimed capital allowances on the van then you must continue to do so. There is no other option.

the only way to break the cycle is to sell the van - that could of course be to yourself - at market value.
Your accounts will then include a balancing charge on the van

after that you could switch to simplified expenses if you wanted