Private Hire Driver, some self assesment tax related questions

DingoEgret

I am a part time private hire driver based in Scotland. I have my main job and also work as a private hire driver from time to time. I bought a preowned car in November 2023 and after licensing and insuring it I started "my bussiness" in February 2024. 

Now it's time to complete my self assesment form for that period (5th February-5th April 2024) on HMRC website. Everything seems to be quite clear, I know how much I earned from Uber and Bolt, how much I spent on fuel, services, etc., but still have some questions as mentioned in the title.

1.  I have read I can deduct my car depreciation which is 18% from the price I paid for the car (I have paid 10k so it's easy to calculate). I know it depends on CO2 emission level which is 105 for my car and I presume that 18% is a correct number in my case. I do not know though where to put that 18% in HMRC self assesment form. Should I add it to all my expenses not specifying it's car depreciation number? Some websites suggest it's somehow related with capital gain tax what makes it even more complicated for me. I would be great for any clues.

2. As I worked as self employed only two months in that financial year, Feb-Apr 2024, I am not sure what to do with 12 months contracts (also expenses) I have paid for. For instance, I bought 1 year insurance and paid total balance in advance. Should I claim for 2 months only or the whole year I paid for? The same applies to Road Tax (paid for 1 year), council licences and RAC emergency service.

3. I earned 2300 pounds in that period but my expenses (including car depreciation would be about 3300-3400 pounds). What would happen in that case? I assume I wouldn't have to pay any tax but it's still 1000 pounds diffrence between I earned and what I invested. Any way to move that 1000 pounds to the next financial year so I would pay less tax next time?

Thank you in advance for helping me.

Dazed_and_C0nfused

Have you considered using an accountant?

Nomunnofun1

I would strongly suggest engaging an accountant. Given the questions there is considerable scope for errors e.g. car depreciation (capital allowances) has nothing whatsoever to do with capital gains tax. 

An accountant can save a lot of money, and future grief!