HOW MUCH TAX CAN YOU CLAIM BACK ON A VAN? SELF-EMPLOYED SPECIAL
Buying a van for your business and not sure how the tax relief works?
In this video Dan runs through how you can claim tax relief on your work van.
Topics include:
Capital allowances on a business van
Annual investment allowance for van
VAT on van for business
Self-assessment tax return
Cash basis
Accruals basis
Motor expenses
HMRC mileage rates / Fixed rate mileage
00:00 Intro
01:00 Hire purchase and cash purchase
01:18 Leasing and renting a van
02:15 Motor costs for self-employment
03:12 The cost of the van and Capital Allowances
04:15 Two ways to do your tax return
05:30 VAT van costs
06:05 How it works on an existing van
07:00 Selling the van next year
08:18 What is better lease or buy
09:10 Summary
… and more!
If you have any questions or thoughts on this, please comment below.
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Call: 02392 240040 Email: [email protected]
#accounting #smallbusinessuk #tax
Note: As always, these videos are educational and should not be considered financial advice. Seek professional advice.