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Post Info TOPIC: HELP! Self-employed tax return
monica25th


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HELP! Self-employed tax return
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Hi Guys,

what shall I do when my client is self-employed and he bought a car this year, 75% business use, do I put the cost of the car in the expense or the tax allowance? Many thanks x


Monica

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kjmcculloch


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Cars are dealt with in different ways depending on whether they are clean or dirty. This is determined by the CO emissions.

Without knowing this it's difficult to advise you exactly how to deal with it.

Kris

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Merlion ABS


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The cost of buying the car is is treated via the Capital Allowances calculations.

The running costs of the vehicle, ie fuel, Insurance, repairs, MOT and Car Tax is treated via the Profit & Loss expenses.

This site will give you a little more info

http://www.rumsby.com/resources-fs-capital-allowances-for-cars.php

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