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mike1986

  • Posts: 432
tax allowance for work van??
« on: March 12, 2012, 03:27:11 pm »
Can you claim 100% of the expense of a work van against your tax if the van is used only for business use? ive heard different things from different people. Cheers

Erithwc

Re: tax allowance for work van??
« Reply #1 on: March 12, 2012, 03:40:41 pm »
Hi

Speak to your accountant he/she will tell you what to do and what will be finanically better for you, thats what i did and decided to just claim mileage as it's a crew van and i use the it for personal use aswell.

Regards Paul

Ian B

  • Posts: 39
Re: tax allowance for work van??
« Reply #2 on: March 14, 2012, 07:35:38 pm »
Any cost that you incur while carrying out your business can be claimed on your accounts, your van (or any big items) will be written down over a period of years, I think it is four. for example, you pay £4000 for a van, then £1000, or one quarter will be put against your tax. Your accountant will see to that.

SherwoodCleaningSe

  • Posts: 2368
Re: tax allowance for work van??
« Reply #3 on: March 14, 2012, 10:09:23 pm »
Now you are able to write off a lot of purchases even vans with AIA Annual Investment Allowance.  It's up to a certain amount, but unless your a large company buying several vans you will probably be ok.  A few years ago you could only claim back a percentage of the van each year, and many window cleaners are still caught in the system as they have had their vans for a few years and are still gradually claiming them back.

Simon.

[GQC] Tim

  • Posts: 4536
Re: tax allowance for work van??
« Reply #4 on: March 14, 2012, 11:29:53 pm »
Any cost that you incur while carrying out your business can be claimed on your accounts, your van (or any big items) will be written down over a period of years, I think it is four. for example, you pay £4000 for a van, then £1000, or one quarter will be put against your tax. Your accountant will see to that.

You can still do that to spread out the cost, but you can claim it all under AIA as well. Which is I think around the £50000 a year.
I claim everything of my van since I use it only for my business.