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 ?
That makes sence I had the option as I bought outrightIf 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.