New car

[damen22]

Hi everyone,
I had to get a bigger car as I couldn't fit 5 kids and me into my little punto. Can I claim any of the expense back, as I didn't have to change my car for any reason other than childminding. Also, what else can I claim back - insurance, tax, petrol??? Any help would be much appreicated as new and haven't managed to work it all out yet!!! X

[sarah707]

Please ring your local Tax Office!

It's complicated and it's best if they give you all the options.

:D

[geordiebunny]

Ok still best to get some info from your local office, but basically if you ise the car for personal and business use you can only claim a percentage of the costs. You can claim the the depreciation cost on the car and there is a complicated way of working this out or you can ask to spea to an officer as they would normally deal with it at their level, you can also claim a percentage of your insurance, tax, servicing costs dependant on the ratio of personal and business use. Alot of people also use the 40p a mile but we were always told that this was for paye expenses only and self emplyed should claim the full petrol cost.

Hope this helps.

[Chatterbox Childcare]

I claim depreciation but my business use is between 90-94% and then it is worthwhile.

If you use your car for private use a lot it just isn't worth it.

I kept a record of my mileage (you will need to do this anyway) and then worked out at the end of the year the best way to go.

To work out depreciation isn't hard and you need to keep accurate records of mileage, petrol, insurance, car washes, mot, service, parts etc and then at the end of the year when you have a business % of miles work out how much you can claim.

If you go down this route you can then claim depreciation and this is based on up to 25% of your cars value to a maximum of £2500 per year. This figure changes so I would talk to the tax office when you have your business percentage and they will talk you through the process.

[Shar]

When I purchased a new car a few years ago I was'nt able to claim the cost of it but I was able to claim the interest on the car loan for the full 4 years I pay it back for. Got 1 more year left, yipee!!:thumbsup:

[Chatterbox Childcare]

Ok still best to get some info from your local office, but basically if you ise the car for personal and business use you can only claim a percentage of the costs. You can claim the the depreciation cost on the car and there is a complicated way of working this out or you can ask to spea to an officer as they would normally deal with it at their level, you can also claim a percentage of your insurance, tax, servicing costs dependant on the ratio of personal and business use. Alot of people also use the 40p a mile but we were always told that this was for paye expenses only and self emplyed should claim the full petrol cost.

Hope this helps.


You can do depreciation or .40p per mile. If you want clarification ring the IR