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07/08 tax return and early planning - help?
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i have a question related to the 40p per mile claim. is it the same with a van? my OH is claiming the 40p per mile on first so many miles then 25p per mile after that (i think those numbers are right!!) does this mean he cant claim depreciation on his van? I thought it was different if it was a van rather than a car...
The 40p per mile route is only a concession and I believe it strictly only applies to cars. I have known the method to be accepted for some vans, though. But, except for the smaller vans it is not usually beneficial.
Vans have preferential treatment over cars in that they qualified for first year allowance (if bought before 6th April 2008) and later purchases will qualify for the new Annual Investment Allowance. At least they do at the moment though when the government realises that some taxpayers can claim tax relief of up to 106% I feel some modifications may be forthcoming.If it’s not important to you, don’t consume it0
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