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Where Taxpayers and Advisers Meet
lease to buy (taxi driver) some what confused about tax options
I got myself a car for use as a taxi, and not 100% sure as to how to put it through on my tax return. I got it in 0ct 2015 and put a £5000 deposit down and paid the rest off over 12 months on a lease to buy agreement. The car remained in the name of the company i got it from until my final payment in oct 2016. can someone please explain the best way to put this through on my tax return, as I have been to a few different ways by fellow taxi drivers. Car Was second hand not new, total cost £10,995 no interest . Thanks.
