Clean It Up

UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: geefree on July 22, 2008, 10:59:18 am

Title: Van loan
Post by: geefree on July 22, 2008, 10:59:18 am

I know i should be asking accountants and  stuff .. but im here with you just now ;D

can i claim personal loan installments for a van .. back through tax etc.

Thanks for any expert advice. ;)

Title: Re: Van loan
Post by: mr merson on July 22, 2008, 12:08:46 pm

Yep

Title: Re: Van loan
Post by: Alex Gardiner on July 22, 2008, 01:20:12 pm

You can only claim the interest part of the loan repayments against tax. You can then also claim the capital outlay for the cost of the van on your tax as you would if you had bought outright.

Title: Re: Van loan
Post by: geefree on July 23, 2008, 10:34:01 am

Thanks..

do i have to wait until its paid before i can claim as though i bought outright.?

Thanks

Title: Re: Van loan
Post by: Alex Gardiner on July 23, 2008, 02:59:14 pm

You treat the capital outlay the same as if you had used your own money. The interest part of the repayment can be claimed as you pay each months payment (12x in a year).