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| Author: | youbeenbusy [ Sun Jan 10, 2010 9:35 pm ] |
| Post subject: | tax of plate |
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 ? |
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| Author: | Sussex [ Sun Jan 10, 2010 9:41 pm ] |
| Post subject: | Re: tax of plate |
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. |
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| Author: | cabbyman [ Mon Jan 11, 2010 12:22 am ] |
| Post subject: | |
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.' |
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