- Home
-
Tax News
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice and Methods
- Professionals in Practice & Industry
- General
- TaxationWeb
-
Tax Articles
- Budgets and Autumn Statements
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings and Investments, Pensions and Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations & Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practice & Methods
- Professionals in Practice & Industry
- General
- Tax Tips
-
Tax Forum
- Income Tax
- Business Tax
- PAYE and Payroll Taxes, National Insurance, NICs
- Company Taxation
- Savings & Investments, Pensions & Retirement
- Capital Gains Tax, CGT
- Property Taxation
- Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
- Tax Investigations and Enquiries
- VAT & Excise Duties
- Stamp Duty, Stamp Duty Land Tax, SDLT
- International Tax
- HMRC Administration, Practices & Methods
- Professionals in Practice & Industry
- General
- Tax Jobs
- Get in Touch
Where Taxpayers and Advisers Meet
capital allowance on my taxi
-
Tax advice
- Posts:12
- Joined:Thu Oct 30, 2008 12:59 pm
-
Simon Sweetman
- Posts:1690
- Joined:Wed Aug 06, 2008 3:11 pm
You can claim FYA on any vehicle that is not a car (though note that if this was after 5 April 2008 you claim Annual Investment Allowance up to £50,000).
Don't stop reading ! The Act (CAA 2001 s.81) says that "car" means a mechanically propelled road vehicle other than one—
(a) of a construction primarily suited for the conveyance of goods or burden of any description, or
(b) of a type not commonly used as a private vehicle and unsuitable for such use.
and your taxi falls into (b) so you can claim.
Don't stop reading ! The Act (CAA 2001 s.81) says that "car" means a mechanically propelled road vehicle other than one—
(a) of a construction primarily suited for the conveyance of goods or burden of any description, or
(b) of a type not commonly used as a private vehicle and unsuitable for such use.
and your taxi falls into (b) so you can claim.
Hi
I am presuming you talking about an accounting period prior to 6/4/08.
I think you have to be careful if you are using a standard road car for your taxi business as this may be deemed to be suitable for use as a private vehicle and therefore FYA would not be available.There will be no problems claiming FYA if this is a black cab type taxi.
Note if FYA is not available then there is no 3k restriction as there would be for normal cars as the car is a "qualifying hire car"
I am presuming you talking about an accounting period prior to 6/4/08.
I think you have to be careful if you are using a standard road car for your taxi business as this may be deemed to be suitable for use as a private vehicle and therefore FYA would not be available.There will be no problems claiming FYA if this is a black cab type taxi.
Note if FYA is not available then there is no 3k restriction as there would be for normal cars as the car is a "qualifying hire car"
