I am helping a friend to prepare their tax return for 2019-2020, he operate as a sole trader and has purchased a replacement van for his old one which was disposed of at nil value.
He operates his accounts on a cash basis and the van in purely for business use. I am unsure if it should be accounted for as Capital Allowance as the accounts are on a cash basis, does it then just get treated as an Expense allowable for tax. I find the HMRC guidance notes a little amiss as it talks about cars but does not appear to cover vans unless I am looking in the wrong place.
If anyone could clarify this for me it would be greatly appreciated.
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