Tax relief on vehicle

[kingsy18]

Looking for a bit of advice ,I,m a self employed builder and I know you can get tax relief on vans ,could you claim tax relief if you purchase an awd suv

Mods can you move this to off topic

[figgy]

Yes if you use it for business. To get the best tax relief it needs to be a commercial like a pickup.

[kingsy18]

7 hours ago, figgy said:

Yes if you use it for business. To get the best tax relief it needs to be a commercial like a pickup.

Already got a commercial van just wandering if I would get tax relief on Suv as well.

[rimfire4969]

Don’t know the figures, but yes you would get some tax relief if you used a suv for work. But to get full or the best tax relief the vehicle would need to be classed as commercial. This is why you see so many 4 door picks ups. 

[Scully]

My 110 isn’t  classed as commercial as it has seven seats. However, it is my only vehicle and I use it for work, therefore I can’t write off its cost against my tax bill in as big a percentage nor over a shorter period. I can claim it back however, but as a smaller percentage at a time and over a longer period. It just means I have to keep it longer, but as I have no intention of getting rid of it anyhow, it’s not an issue. 

To claim it back at a bigger percentage at a time and over a shorter period I would have had to buy either a crew cab 110 or a van type, either LWB 110 or a 90. 

[figgy]

Last time I looked at it you could put two thirds of your costs to business use and one third for private.use.

A commercial is all business.

The above was years ago, things may have changed somewhat.

Edited January 19, 2019 by figgy

[Fisheruk]

9 hours ago, kingsy18 said:

Already got a commercial van just wandering if I would get tax relief on Suv as well.

Unlikely unless it is something like a pickup 

Advantage is you can claim back VAT on purchase and fuel plus maintenance 

[eddoakley]

1 hour ago, Fisheruk said:

Unlikely unless it is something like a pickup 

Advantage is you can claim back VAT on purchase and fuel plus maintenance 

Assuming he is VAT registered.

Just having severe telling off from my accountant for not keeping good enough enough records and putting some receipts/expenses against the wrong thing.

Back to the op, I think you should get some tac relief but as always- ask the professionals. Your accountant will sort it.

 

Edd

[Fisheruk]

1 hour ago, eddoakley said:

Assuming he is VAT registered.

Just having severe telling off from my accountant for not keeping good enough enough records and putting some receipts/expenses against the wrong thing.

Back to the op, I think you should get some tac relief but as always- ask the professionals. Your accountant will sort it.

 

Edd

Edd, yes of course. You need to be VAT registered to reclaim your VAT. Thanks for pointing that out.