car and depreciation

[JazzyL]

Can anyone help? I bought a big car solely for childminding in 2008 for £3500(have use of other car for personal use). I had put the cost in my expences but before I submit to inland rev am thinking that I dont put the full cost in as an expence but instead take off 20% for 08-09 (therefore claiming £700 capital alllowance).???? Does this sound right??? please help,

In anticipation, thanks!

I have claimed the actual costs of everything else (I know a lot of cm's claim the 40p/mile but given the age and condition of my car it is better to do it this way)

[Chatterbox Childcare]

I think that if you recalculate the miles that you have done you will find that .40p will pay you more.

Your 20% is only on the business percentage of your high and is that around the 90% point. You cannot claim £700 unless the car was not used for home use AT ALL. What mileage are you doing each year?

Let me know as I am sure you are losing out.