Taxi/Private Hire Car - First Year Capital Allowance Help!!

Taxi/Private Hire Car - First Year Capital Allowance Help!!

Postby time_2 on Tue Mar 09, 2010 12:47 pm

I would be most grateful if anyone on here could help me out with a Tax Question concerning self employed private hire driver (council licensed but not taxi hackney carriage). :?:

I am self employed and have recently purchased a Mercedes S Class Vehicle costing £10k. What amount % am I allowed to claim as capital expenses in my first year and thereafter? I see many different articles on the web, but most of them are 2008 or older and I am worried rules may have changed. Many say 25% for the first year and 25% of the balance thereafter but i have seem some as high as 50% and some as low as 10% !!

Your help and time is much appreciated. ;)
time_2
 
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Re: Taxi/Private Hire Car - First Year Capital Allowance Help!!

Postby time_2 on Fri Mar 12, 2010 10:51 am

Hi, I am still looking into this and would be very grateful if any experts here knew the answer. I have also heard that it depends on the Actual Car type - a MERCEDES S class can act as a limousine in tax terms which may be treated differently. If anyone has any information or experience on this then I would be most grateful.
time_2
 
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Joined: Tue Mar 09, 2010 12:44 pm

Re: Taxi/Private Hire Car - First Year Capital Allowance Help!!

Postby robbob on Fri Mar 12, 2010 1:54 pm

Hello time

From memory i think you can claim 100% AIA's only if the vehicle is of such a design that it would not normally be used as a car E.g. A Black Cab Type vehicle,limousine etc.

Note the fact a car can act as a limousine does not mean that was designed as such.
Unfortunately i do not know enough about cars to know whether this vehicle is more like a normal car or more like a limousine.
How many seats are there behind the drivers seat?
How are these arranged?
Was the vehicle designed like this - or have custom changes been made?
robbob
 
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