I put this in askaboutbusiness and was told it belongs here.
I just set up a business, previously out of work - I had a car which was off the road and I put it back on.
It's 6 years old and I use it only for work I'm home based office but mostly I'm on the road - wife has a car for day to day stuff.
It won't last another 8 years to do a 12.5% depreciation. I reckon three years and it'll be toast.
How would I go about writing it off. Can I do it over three years at 33%?
The second question I have is can I carry capital allowance forward on a motor vehicle?
Thanks
I just set up a business, previously out of work - I had a car which was off the road and I put it back on.
It's 6 years old and I use it only for work I'm home based office but mostly I'm on the road - wife has a car for day to day stuff.
It won't last another 8 years to do a 12.5% depreciation. I reckon three years and it'll be toast.
How would I go about writing it off. Can I do it over three years at 33%?
The second question I have is can I carry capital allowance forward on a motor vehicle?
Thanks