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Tax relief on vehicle


kingsy18
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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. 

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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

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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. 

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