- Original Poster
- #1
Hi all, new to the group so please be gentle,
I am a self-employed sole trader and I used to use the simplified method for claiming car expenses at .45p mile.
However, I have now sold that car and have a new although more expensive (Second Hand) Electric Car with 0 emissions.
The car was £43k and I am paying £730 on a 4-year PCP and I paid £4k as a deposit.
I will be using the car for 50% business (around 8k miles) and 50% private (around 8k miles)
Question is, I don't think I can claim the full 100% (or any) capital allowance on this as it is not a new EV (its second-hand) is that correct?
If I now use the cash basis, can I claim for 50% of the PCP ? what about the deposit, can I also claim a portion of this back
Thanks in advance for any advice.
I am a self-employed sole trader and I used to use the simplified method for claiming car expenses at .45p mile.
However, I have now sold that car and have a new although more expensive (Second Hand) Electric Car with 0 emissions.
The car was £43k and I am paying £730 on a 4-year PCP and I paid £4k as a deposit.
I will be using the car for 50% business (around 8k miles) and 50% private (around 8k miles)
Question is, I don't think I can claim the full 100% (or any) capital allowance on this as it is not a new EV (its second-hand) is that correct?
If I now use the cash basis, can I claim for 50% of the PCP ? what about the deposit, can I also claim a portion of this back
Thanks in advance for any advice.
