First Previous - Page 1 of 1 - Next Last

Self assessment - purchase of van

  • Member
  • Practice Licence
  • 28 posts
  • # 118313

Hi everyone, I've had a query from a sole trader who wants to know how to show the purchase of a van on his tax return. I've found all the information from HMRC, but I'm not clear about what to do if the van is being paid for in instalments, so he won't have paid the full cost in 2018-19. Does he claim the full cost (in fact can he do that if he's using cash basis), or should he claim just the amount he has paid in that year? 

Thanks everyone


First Previous - Page 1 of 1 - Next Last