I'm completing a tax return at the moment and the client has hired (just one or two days at a time) a couple of cars and vans over the year.
I was under the impression that hire charges for cars and vans were 100% allowable.
However, I've just checked my new ATT tax book and its says " hire charges on cars - restrict - 15% flat rate disallowance if CO emissions exceed 160g/km".
Does anyone know if this is also applicable to the hire charges of a van? Or is van hire 100% allowable.
BIM47730 specifically excludes vans (see here (under meaning of car) http://www.hmrc.gov.uk/manuals/bimmanual/bim47730.htm).
For the hire of the car does not BIM47750 override the rules for short term hire (see here : http://www.hmrc.gov.uk/manuals/bimmanual/BIM47750.htm)
How are you finding the ATT studies?
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I've just got the first two books Personal Tax and Business Tax & Accounting Principles. I'm also still doing ICB. So I will start with serious study in the next few weeks and try and sit the exam at the end of the year. The books look really good but a lot of info to take in. But hopefully I might be able to answer some of the questions instead of always asking them by the time I'm finished.
