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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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If I'm self employed can I claim any tax relief against the

Customer Question

If I'm self employed can I claim any tax relief against the purchase of a bicycle?
Submitted: 10 months ago.
Category: Tax
Expert:  TonyTax replied 10 months ago.
Hi. What do you do for a living?
Customer: replied 10 months ago.
Hairdresser
Expert:  TonyTax replied 10 months ago.
Thanks. If you work in one place such as a salon, then you cannot claim tax relief for home to work and work to home travel. If you work from home and travel to customer's homes, then you can have two choices: 1 claim tax relief at 20p per business mile or 2 claim capital allowances. You could claim 100% of the cost as reduced fro private usage against one year's income under the Annual Investment Allowances rules. Alternatively, you could claim writing down allowances at the rate of 18% per annum on a reducing balance with a reduction for any private use. I hope this helps but let me know if you have any further questions.
Customer: replied 10 months ago.
Does that mean if the bike is used 80% for business, we would claim 80% of the value?
Expert:  TonyTax replied 10 months ago.
Yes, it does.
Customer: replied 10 months ago.
So can I just clarify that if it was only used for commuting to a place of work you cannot claim anything?
Expert:  TonyTax replied 10 months ago.
That's correct, if you only work in a salon or one place like a factory or an office.
Customer: replied 10 months ago.
If you use the bike for errands such as banking, picking up things then you could claim a % then?
Expert:  TonyTax replied 10 months ago.
Where would you be travelling from?
Customer: replied 10 months ago.
Home and or salon
Expert:  TonyTax replied 10 months ago.
You might get tax relief for those trips but frankly, you'd need to be a long way from the bank to make it worthwhile.
Customer: replied 10 months ago.
Is there any tax relief if the bike is available to staff?
Expert:  TonyTax replied 10 months ago.
Take look here for information on the government cycle scheme.
Expert:  TonyTax replied 10 months ago.
Hi.
I'm just following up to find out if my answer helped or if you have any further questions.

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