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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4972
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Hi.im a self employed greenkeeper maintaining bowling greens.

Resolved Question:

Hi.im a self employed greenkeeper maintaining bowling greens. During the 2013-14 tax year I brought a van for £3000 via a loan from nationwide. Not all my mileage is business with about 40% being private. My question is; how do I show this purchase on my self assesment tax return. Regards ***** *****
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

You would claim capital allowance for this van. You could claim 100% annual investment allowance on it but restrict it to 60% business use.

If you are completing a short version of self-employment section then you put £1,800 in box headed annual investment allowance within the section "Tax Allowances for vehicles and equipment (capital allowances).

I am providing you a link of SA103(s) that shows where your capital allowance for the van would go..(its box 23)

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/354317/sa103s.pdf


You can also claim 60% of interest paid on that loan.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 2 years ago.
Thank you for your reply. Yes I fill out the short version as my income is around £20k (I also have a paye part time employment)
When you say I could claim 100% annual investment allowance do I show that anywhere?
I understand putting the £1800 in box 23.
Also which box would I put the interest amount in to claim for
Many thanks
Kevin
Expert:  taxadvisor.uk replied 2 years ago.
Kevin, thank you for your reply.

Box 23 deals with 100% AIA.. you don't show it anywhere else.

Interest payments would normally go in Box 17 - Interest and bank and credit card etc. financial charges.

As your turnover is below £79,000, you may just put your total expenses in Box 20 (total allowable expenses) rather than filling in the whole section.
These expenses would include interest charges.

I hope this is helpful and answers your question.


If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 2 years ago.
Thank you very much. Most helpful.
Regards Kevin
Expert:  taxadvisor.uk replied 2 years ago.

Kevin, thank you for your reply and good words.

I am pleased you found my answer helpful.

If you are happy and there are no more issues I will appreciate if you would kindly rate the service I provided to ensure I get credited for it.

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 2 years ago.
I thank you accepting my answer.

Best wishes.

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