2nd option from a tax website, says cars Not exceeding 130 g/km CO2 emissions Write Down allowance 18% p.a. - no cap mentioned.
That's a UK allowance.
As far as I understand the question, the answer is yes. You are not required to submit accounts, just the taxable profit. This is because you are below the limit.Is it right that I am only plugging in the final net income figure into additional income, without any reference to inc+exp
How do I know what expenses are allowable?
In the example above, (actual exp but rough figures) there's about 3600 exp and 1500 income - assuming all items are able to be included as as expense. If this is correct then I don't need to submit anything in this year for additional income right?
YesCan I carry forward the additional loss, not offset (3600-1500=2100) for the next year
Purchasing a vehicle for use by the business, can reduce the taxable amount via capital allowances?
So if I buy a car for sole use of the business, next year will bring my non-PAYE income down from est €6k to €3k
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