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Tax allowance for car - self employed

mister_tom
Posts: 9 Forumite
in Cutting tax
Hi
First of all, thanks up front to all the people who contribute to this forum, it's amazing for people like me who just need a little help from time to time.
The last tax year was my first year with a car. I'm self employed, I work all over London and throughout the country (so I don't have a 'normal commute'). I use the car for both work and personal journeys. What, if anything am I able to claim back?
I've tried looking it up, but it very quickly gets into a self-referential maelstrom.
Specifically:
1) Is there any of the purchase amount that I can claim back?
2) Having done that can I claim back a percentage of the milage? On some jobs I have charged for mileage but not on all, so I would of course only be claiming back the miles for which I haven't already been reimbursed.
3) My insurance does cover me for business use. Can I claim back some of that?
Any help would be hugely appreciated. It's easy when you know how!
Thank you
T
First of all, thanks up front to all the people who contribute to this forum, it's amazing for people like me who just need a little help from time to time.
The last tax year was my first year with a car. I'm self employed, I work all over London and throughout the country (so I don't have a 'normal commute'). I use the car for both work and personal journeys. What, if anything am I able to claim back?
I've tried looking it up, but it very quickly gets into a self-referential maelstrom.
Specifically:
1) Is there any of the purchase amount that I can claim back?
2) Having done that can I claim back a percentage of the milage? On some jobs I have charged for mileage but not on all, so I would of course only be claiming back the miles for which I haven't already been reimbursed.
3) My insurance does cover me for business use. Can I claim back some of that?
Any help would be hugely appreciated. It's easy when you know how!
Thank you
T
0
Comments
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Why do people leave it to the last minute when the don't know what they're doing......
Have you kept mileage logs so you identify business/personal use?0 -
OP get a spreadsheet and read up on the rules or get an accountant to do this,
Why wait 3 days before the deadline to do this?
https://www.gov.uk/tax-relief-for-employees/vehicles-you-use-for-work"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Because I'm clearly an idiot who's looking for help. Yes I have mileage notes.0
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Well your choce is either use HMRC AMAP rates to calculate your expenses or you have 2 days to read up on Capital Allowances, apportioning expenditure etc.
First method would take 10 minutes if you know your actual allowable business mileage.0 -
Okay, thank you.0
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