2007-8 buying and selling a car in the same year

[KidsBeeHappy]

What happens re capital allowances/balancing allowances for a car bought and sold in the same year. £2250 difference between purchase price and selling price. Car owned for 11 months.

Many thanks
Sandra

[Zeno]

Is there any private use restriction involved?

[KidsBeeHappy]

Prob 50% to be on the safe side.

[Zeno]

Your balancing allowance is therefore £2,250 restricted to £1,125.

[KidsBeeHappy]

Just balancing allowance, no capital allowances, no time apportionment, all sounds straightforward.

Thanks Zeno. Sometime thing as simpler than you anticipate!