My company bought a new Van this tax year using current cash flow.
Accountant says company can only write off 12.5% per year.
The company will show a profit this tax year, part of this profit will be the 88.5% of the cost of the van.
Accountant says because the company is showing a profit, the company will have to pay corporation tax on the profit including the portion of the van that cannot be written off.
Does the company have and options in that would prevent it from having to pay corporation tax on the portion of the van that cannot be written off?