Capital Allowances on Used Vehicle

G

Gyroscope

Registered User
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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%?

Thanks for any input
 
Wrong therad - this should be in tax section to get responses.

If the company did not buy the car (incur the expense) it has no expense on the car to write off!
 
Maybe a moderator could move it across into the tax section!

I'm a sole trader so no company involved.
 
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