Hi
I am self-employed and have a commerical vehicle.
I have been off-seting a 12.5% depreciation expense in my P&L accounts for the vehicle. If the loan on the van is repaid in year 4 can I still continue to offset the depreciation expense for the remaining 4 years(as 12.5% depreciation rate implies it can be offset on vehicle for 8 years)
Thanks!
I am self-employed and have a commerical vehicle.
I have been off-seting a 12.5% depreciation expense in my P&L accounts for the vehicle. If the loan on the van is repaid in year 4 can I still continue to offset the depreciation expense for the remaining 4 years(as 12.5% depreciation rate implies it can be offset on vehicle for 8 years)
Thanks!