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Where Taxpayers and Advisers Meet

Tax Return - Purchase of Van

clairey
Posts:1
Joined:Sat Jun 17, 2017 11:53 am
Tax Return - Purchase of Van

Postby clairey » Sat Jun 17, 2017 11:56 am

I really need some help please, as this is far beyond my capabilities!

I help my self employed son with his tax return. He works on a CIS basis.

This year he's purchased a van on finance. We use Cash basis for his accounts. Where do I put his van in? Should I just put it an as expense (although he hasn't paid it all off - nowhere near!), or do I need to look at Capital Allowances??? Which sounds really complicated.....

Thank you very much.

darthblingbling
Posts:698
Joined:Wed Aug 02, 2017 9:09 pm

Re: Tax Return - Purchase of Van

Postby darthblingbling » Fri Aug 04, 2017 3:42 pm

Does he have any private use of the vehicle?

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Tax Return - Purchase of Van

Postby bd6759 » Fri Aug 04, 2017 5:26 pm

Capital alloance saren't relevant if he is using the cash basis.

What sort finance arrangment is it? Please give details.


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