Capital allowance on used car confusion
Postby Sole trader » Sat Jan 16, 2021 5:00 pm
Hello, This is my second post about capital allowance really confused how to complete my return including capital allowance, I had already a reply from Lambs he was very knowledgeable and helpful, I was advised that I could claim 18% of the value using capital allowance on used car but on the tab "Annual Investment Allowance" which is the only tab I have to fill out my return on capital allowance it does mention clearly we can not include cars it's only for vans, lorries and motorbikes. I am sole trader buying and selling different type of goods my car was bought for £5200 late April 2019, it's a car not a van, 70% is used for business and 30% for private use, car reg is 2017 with emission is 103gr petrol. I am using cash basis option, after all the hassle to complete this return at the top of that it will be more hassle for the coming years if I decide to sell and buy another car, I don't know if it's worth it to claim capital allowance for my the car I bought. your help is much appreciated Thank you