Posted: Sun Sep 23, 2007 11:46 am
Hi everyone - wondering if anyone can kindly advise me on the following -
I am self employed ( not VAT regd )and bought a second hand car ( C Class Merc ) worth 15000 GBP in September last year. I do about 15000 miles per annum with approx 50% as busines miles.
Prior to filing my returns I am wondering how much depreciation can I claim for . Also as I took a loan for the car can I on top of the depreciation / running costs / insurance etc claim for the interest on the loan.
Thnaks in advance
Binay
I am self employed ( not VAT regd )and bought a second hand car ( C Class Merc ) worth 15000 GBP in September last year. I do about 15000 miles per annum with approx 50% as busines miles.
Prior to filing my returns I am wondering how much depreciation can I claim for . Also as I took a loan for the car can I on top of the depreciation / running costs / insurance etc claim for the interest on the loan.
Thnaks in advance
Binay