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Self assessment and commercial vehicle
Richsstitches
Posts: 4 Newbie
in Cutting tax
Afternoon All,
Just looking for any advice please.
In the process of completing my self employed husbands self assessment, however during the tax year he purchased a commercial vehicle. X amount was paid as cash deposit and the remaining balance was put onto repayments.
Just looking for any advice please.
In the process of completing my self employed husbands self assessment, however during the tax year he purchased a commercial vehicle. X amount was paid as cash deposit and the remaining balance was put onto repayments.
Can we claim the deposit on the self assessment, and if so where under? Is it under capital alow aces or ans a vehicle expense? And also can we claim the repayments as expenses, ie the full monthly repayment amount or is it less the interest? and again where under?
We claim actual expenses on the vehicles, not simplified expenses.
Any advise greatly received
Thank you
Any advise greatly received
Thank you
0
Comments
-
is husband a sole trader or Ltd Company?
I assume ST
is the vehicle on a financing lease or an operating lease?1 -
Yes husband is sole trader and finance is on hp I believe…replacements to cover cost of vehicle and interest over 4 year termBookworm105 said:is husband a sole trader or Ltd Company?
I assume ST
is the vehicle on a financing lease or an operating lease?0
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