Taxi Driver Online • View topic

Board index » General » Restricted taxi numbers

All times are UTC [ DST ]

tax of plate

Page 1 of 1

[ 3 posts ]

Print view

Previous topic | Next topic

Author

Message

youbeenbusy

Post subject: tax of plate

Posted: Sun Jan 10, 2010 9:35 pm

Joined: Thu Jun 14, 2007 8:32 pm
Posts: 387

If a hackney plate is bought for X amount can it be tax deductable ?

and if the L.A deregulated could the amount paid for the plate be a tax loss ?

Top

Sussex

Post subject: Re: tax of plate

Posted: Sun Jan 10, 2010 9:41 pm

Joined: Wed Sep 03, 2003 7:30 pm
Posts: 54020
Location: 1066 Country

jon wrote:

If a hackney plate is bought for X amount can it be tax deductable ?

and if the L.A deregulated could the amount paid for the plate be a tax loss ?

If it's properly receipted anything can be tax deductible.

And if your 'asset' that you paid, say, £40,000 for suddenly isn't worth a carrot, then that loss is equally deductible.

In my opinion.

_________________
IDFIMH

Top

cabbyman

Post subject:

Posted: Mon Jan 11, 2010 12:22 am

Joined: Sun Oct 16, 2005 12:07 am
Posts: 2596
Location: Hampshire (HC)

As it's an asset it is on the capital side of the balance sheet, not revenue. Therefore, I believe that any losses on sale would be dealt with under capital gains tax rules.

As with many of these questions, ultimately the correct answer is 'see a good accountant.'

Top

Page 1 of 1

[ 3 posts ]

Board index » General » Restricted taxi numbers

All times are UTC [ DST ]

Who is online

Users browsing this forum: No registered users and 28 guests

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum