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Post Info TOPIC: Capital allowances
lisa marie


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Capital allowances
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Hi Everyone,

I have a client that is a sub contractor and he wants to purchase a new van, he will either do this by bank loan or a HP agreement, can he claim the normal capital allowance for this asset or only claim for the monthly payments as a business expense.

Lisa



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FoxAccountancyServices


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If he buys the van using a loan/HP, he can claim capital allowances on the purchase price in the year of purchase (suitably adjusted for VAT and/or private use if appropriate)
Monthly payments is when its a lease.

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lisa marie


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I thought that was the case, thank you for the reply.



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