CLAIMIMG TAX ALLOWANCE FOR A RECENTLY PURCHASED VAN
Discussion
Hi guys,
I have just joined and find the site to be most imformative. I have also got a personal query on AIA which I would appreciate advice on:
I have been a sole trader for almost 3 years and bought a van for £4.5k in December 2009. Up till now I have been claiming 40 pence per mile as agreed with my accountant (on my old vehicle). I have enclosed all the paperwork for the van purchase so that i can hopefully claim capital tax allowance against the £4.5k cost (AIA?)I have just received a draft copy of my accounts back from them showing they are still applying the 40p per mile but saw no evidence of any tax allowance against the capital outlay for my van!!? When i spoke to them they never once mentioned AIA but have suggested they put through the cost of the van in total for the tax year ending April 2010 and then dropping the mileage allowance to 10p per mile, surely this also can't be correct as i am then being penalised for real actual everyday motoring costs? As i also use the van for some small personal mileage (no other private vehicle)they have applied a 25% reduction against my total annual mileage to allow for this.I am now confused as to how to instruct them to proceed as their suggestion of claiming full capital tax allowance against the £4.5k but dropping the mileage allowance to 10p per mile looks like robbing Peter to pay Paul but at my expense!? I would be ever so grateful if someone can advise me accordingly.
kind regards
noelb56
I have just joined and find the site to be most imformative. I have also got a personal query on AIA which I would appreciate advice on:
I have been a sole trader for almost 3 years and bought a van for £4.5k in December 2009. Up till now I have been claiming 40 pence per mile as agreed with my accountant (on my old vehicle). I have enclosed all the paperwork for the van purchase so that i can hopefully claim capital tax allowance against the £4.5k cost (AIA?)I have just received a draft copy of my accounts back from them showing they are still applying the 40p per mile but saw no evidence of any tax allowance against the capital outlay for my van!!? When i spoke to them they never once mentioned AIA but have suggested they put through the cost of the van in total for the tax year ending April 2010 and then dropping the mileage allowance to 10p per mile, surely this also can't be correct as i am then being penalised for real actual everyday motoring costs? As i also use the van for some small personal mileage (no other private vehicle)they have applied a 25% reduction against my total annual mileage to allow for this.I am now confused as to how to instruct them to proceed as their suggestion of claiming full capital tax allowance against the £4.5k but dropping the mileage allowance to 10p per mile looks like robbing Peter to pay Paul but at my expense!? I would be ever so grateful if someone can advise me accordingly.
kind regards
noelb56
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