I have a new client (Sole Trader) who bought a van a couple of years ago but has not claimed anything back on its purchase, his first year of trading was relatively slow with profits not above his PA, this year has been a lot better with profits up to about the 20k region, am I right that AIA can only be claimed in the year of purchase but then the van will go into the main pool and WDA of 18% can be claimed each year until the WDV is below £1000 when it can all be claimed if wished.
If anyone could confirm ( or disagree) that this is the correct treatment it would be greatly appreciated.
Cheers
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Yes Joanne it is definitely a van as I had it parked on my drive for over an hour yesterday but I do understand exactly what you mean about HMRC requirements
Cheers
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Oh Doug, welcome to our world!!! Glad you are enjoying the forum, although as someone mentioned to me recently (I wont name names, but he knows who he is!) we need some of the daft banter back. Sometimes its a case of having no time for it, but thats when its needed the most, to keep us sane! (or as sane as we ever were in the first place!)
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Well if its daft banter that is missing then I can only be a positive addition to this forum as I have more chance of joining in them sort of posts than I have of participating in the more technical ones!
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Yes, banter is good, although I do appreciate sometimes we can be bogged down with work and have no time for joviality. My favourite one was between me and Shaun battling for Joanne's buns!! Don't ask Douglas but there were securicor vans strewn all over the place as me and Shaun raced to Cheshire to sample her wares. I should perhaps add at this point that Joanne is a whizz at baking.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Sounds like it should have been in a Benny Hill sketch/song or is that just me showing my age.
Talking of age I was looking through peoples profiles and realised that Johnny actually turned 117 years old this year I never would have thought that after reading some of his posts, it seems age really is no barrier!!
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
You remember Benny Hill? Obviously totally un PC nowadays, but as a testosterone charged young man, very much part of my youth. A funny man who led a very sad life by all accounts.
I've looked at your profile just now and have to say that I never knew Brighton was formerly London.... oh right I see
Will Johnny make it to 120? The cloud may get him first
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Yes, banter is good, although I do appreciate sometimes we can be bogged down with work and have no time for joviality. My favourite one was between me and Shaun battling for Joanne's buns!! Don't ask Douglas but there were securicor vans strewn all over the place as me and Shaun raced to Cheshire to sample her wares. I should perhaps add at this point that Joanne is a whizz at baking.
Oh John, you couldve left the last sentence out
........ at least for a few minutes!
Doug - being from the Benny Hill era defo puts you in the same-ish age bracket as Shaun and John. Me of course, I only vaguley know what you are talking about as Im sooooo much younger than them (ok just a wee bit younger, but still younger!!!). Although by all accounts a mere baby compared to Johnny!
Johnny - you never know on the rock and roll side - a pal of mine has just got a recording contract for his band at 40!
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
