Van and tax relief

sheddensbear

Well-Known Member
Thinking of going into business, self employed. Will need to buy a wee second hand van, let's say £5k. Do I get tax relief, how much and over how many tax years ?
 
I'm self employed with a couple of vans but I just leave all that to my accountant. Perhaps ask one for advice? I do know that depreciation of the vehicle comes into it, sorry I can't be more help.....
 
You get the whole purchase price as an allowance. You can spread the allowance over a period of years ( not sure how many) or take it all in a oner

Best of luck mate self employment is the best thing I ever done work wise
 
If you buy the van outright you'll get the deduction in year one under the annual investment allowance for capital allowance purposes.

If you pay it up, I think you take the deduction for the amounts paid in the tax year they are paid.

If you lease it, the deduction is the lease cost.
 
If you buy the van outright you'll get the deduction in year one under the annual investment allowance for capital allowance purposes.

If you pay it up, I think you take the deduction for the amounts paid in the tax year they are paid.

If you lease it, the deduction is the lease cost.
That makes sence I had the option as I bought outright
 
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