I'm trying to find reference to the 100% allowance on plant and machinery etc on the HMRC website.
I purchased a van in the last tax year period (it's not zero emissions) and I'm wondering what figure to put on the tax return. I have been searching online for about an hour yet my previous accountant, and a friend who is an accountant, says that I can definitely claim 100% of it's purchase price as a capital allowance.
As I am doing my own accounts and tax return, I want to make sure I'm doing it right.
its true, a van is plant, not a car. You just have to be careful that the make of van that you have is recognised by HMRC as one as there's crossover when it comes to 4x4's and pickups (and vans with side windows rather than panels in the back are cars).
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.
Well, cept that you got a 25 min head start on me.
This is one of those questions that I know the answer to but when someone asked it I had a wobly and thought is a van actually AIA or 100% FYA?
I know, same result but just needed to remind myself of the facts before answering
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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.
