You are not logged in.

#1 19-06-06 16:36:12

New Girl
Verified Member
From: Somerset
Registered: 25-07-05
Posts: 524

Self Assessment - Claiming car loan on expenses

Can anybody help?  Is it just the interest on my car loan that I can claim as an expense?  with the rest of my loan payments down as a dissallowable expense :?

Help - My head is hurting!!!

Offline

19-06-06 16:36:12

AdBot
Google AdSense Posting Bot

Re: Self Assessment - Claiming car loan on expenses




Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/matthutc/public_html/drivertrainingtoday.co.uk/include/parser.php on line 787

#2 19-06-06 18:03:00

sue martin
Verified Member
From: National area franchises
Registered: 21-01-05
Posts: 333
Website

Re: Self Assessment - Claiming car loan on expenses

Hi there..

There is 2 things you can claim if you are buying a car,
1. The interest portion of your monthly payments, look at your finance agreement and it will state what interest percentage you are paying and then you can calculate the interest on your payment each month, alternatively phone your finance company and ask them to work it out for you !...
2. A capital writedown value, this will depend on whether you purchased your car new or used.A rule of thumb is a car is deemed to depreciate by 25% per year except the first year of its life.
hope that helps a teeny bit
Sue


0800 298 8928
http://thebrightredl.com
The Bright Red L
Online Booking App. FREE TRIAL  http://instructorapps.co.uk/

Offline

#3 23-06-06 17:50:35

New Girl
Verified Member
From: Somerset
Registered: 25-07-05
Posts: 524

Re: Self Assessment - Claiming car loan on expenses

Thats great - Thanks Sue!  Wish I had a head for stuff like this that you obviously do!  I am determined to learn though so all your help is appreciated!!!
big_smile big_smile

Offline

#4 25-06-06 16:34:50

catman
Verified Member
From: Keighley
Registered: 31-01-05
Posts: 30

Re: Self Assessment - Claiming car loan on expenses

Hi

The interest portion and the writing down allowance both need to be reduced to take off private use of the vehicle.  In other words, you can only claim for the business element of the expenditure.

catman


Please use Everyclick.com as your regular search engine to help raise funds for the cat charity Haworth Animal Welfare.

Offline

Board footer

Powered by FluxBB. Developed by Matt Hutchings