Recent content by develectrics

  1. develectrics

    Selling partly % claimed expenses

    Thanks
  2. develectrics

    Selling partly % claimed expenses

    Hi, I'm self-employed as a sole trader, I know that when I claim expenses that are partly used for personal use, that I only claim a percentage as an expense. So say I buy a van for £10,000 and use it 80% of the time for business, I can claim £8,000 as an expense. My question is, say I sold it...
  3. develectrics

    Sole trader - selling an asset that was claimed as an expense

    Hi, does anyone know what assets that were claimed as expenses and then get re-sold are classed as for a cash basis sole trader? Say I bought a van for £10k, claimed it as an expense, 5 years later I sell it for £5k. Does that £5k just count as normal taxable income? Thanks.
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