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Capital allowance van purchase.
Boxingfergie
Posts: 7 Forumite
in Cutting tax
Hi Folks. Director of small limited company with about 9 months in trading. Time has come to purchase a van for the business.
Am I right in thinking the total purchase price can be put through as a capital allowance? If so what is the best way to purchase? Bank transfer, cash? Van is used. Any specifics surrounding the purchase I need to note?
TIA
Am I right in thinking the total purchase price can be put through as a capital allowance? If so what is the best way to purchase? Bank transfer, cash? Van is used. Any specifics surrounding the purchase I need to note?
TIA
0
Comments
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The business can claim capital allowances on the full cost in the year of purchase.
If the van is available to an employee for private use, there will be a benefit in kind.1
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