FYA on a van I already owned.

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Postby corinne on Thu Sep 22, 2005 1:02 am

My partner started self-employment last year. Are we able to claim first year allowances of 50% on the market value on his van even though he owned it previous to being self-employed.
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Postby deanshepherd on Thu Sep 22, 2005 1:04 am

You cannot claim FYA on the van but you can claim normal writing down allowances of 25% (less any adjustment for private use)


Dean Shepherd
dean.shepherd@mmi-online.co.uk
MMI Accountancy
www.mmi-online.co.uk
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