o-marek wrote:
you're about two years late, mate
aint bought new for 2 years...lol
heres the confusing bit
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5. Business cars
You can claim capital allowances on cars you buy and use in your business. This means you can deduct part of the value from your profits before you pay tax.
Use writing down allowances to work out what you can claim - cars don’t qualify for annual investment allowance (AIA).
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You can claim AIA on these items apart from cars. Only claim writing down allowances at 8% if you’ve already claimed AIA on items worth a total of more than the AIA amount.(£200,000)
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Assets with a short life
You decide whether something has a life of less than 8 years. You can’t include:
cars
items you also use outside your business
special rate items
There might be dispentation or adjustments for cars bought for use as taxis (tools of a trade), lets face it, they get wrecked quick...although buy at £20K and sell in 5 years for £5K and youve got £15K worth of depreciation plus the interest on any HP...
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