How to claim for my car ?

[zoe2010]

confused yet again lol, i brought a 7 seater car last june for childminding i use it 60% of the time and paid 9,500 ? Thanks :D

[Chatterbox Childcare]

9500 x 10% x 60% gives your capital depreciation

YOu need to take 60% of everything else, mot, service, repairs, valet, car washing, petrol, insurance and anything else you can think of

Also look at how many miles you have done and then x .45p and see which is the best return

Once you start one method you have to stick to it until you sell the car

[zoe2010]

Thanks i used an accountant last yr and really didnt think it was worth it as i still had to do lots of work im in 2 minds to use one again although an accountants stamp looks good !:D

[juelmer]

How do you come up with the % figure of how much you use your car? I use mine mostly for minding which is 5 days a week and for personal use about 1 evening a week and 1 day at the weekend. So would 80% sound right?

I presume you would just give a realistic guess to find out this figure as it would be time consuming to write down the mileage every time you used the car and what it was used for (minding or personal).

[Chatterbox Childcare]

How do you come up with the % figure of how much you use your car? I use mine mostly for minding which is 5 days a week and for personal use about 1 evening a week and 1 day at the weekend. So would 80% sound right?

I presume you would just give a realistic guess to find out this figure as it would be time consuming to write down the mileage every time you used the car and what it was used for (minding or personal).

You should be keeping exact mileage use regardless of .45p or cd. You keep the miles for the year and calculate how much is business by the miles. i.e. 1000 miles used in the year of which 700 are business which is 70%.

The HMRC won't take guesses - you need to be accurate.

[MagdalenaS]

Hi,

I've been told that if I use % of my car costs I can not claim patrol in it (I can put all expenses MOT, insurance etc but NOT petrol)

Is it right?


9500 x 10% x 60% gives your capital depreciation

YOu need to take 60% of everything else, mot, service, repairs, valet, car washing, petrol, insurance and anything else you can think of

Also look at how many miles you have done and then x .45p and see which is the best return

Once you start one method you have to stick to it until you sell the car

[Chatterbox Childcare]

Hi,

I've been told that if I use % of my car costs I can not claim patrol in it (I can put all expenses MOT, insurance etc but NOT petrol)

Is it right?

No this is not correct. You claim the business percentage of petrol the same as all the other costs BUT you DO NOT claim the .45p per mile as well

[stargazer1]

If I decide to claim to 0.45p per mile allowance, does this then cover all other running costs: mot, insurance, service etc? x

[loocyloo]

If I decide to claim to 0.45p per mile allowance, does this then cover all other running costs: mot, insurance, service etc? x

my understanding is that when you claim the 45p/mile for your car, that covers/includes everything car related (such as mot/service/tyres etc) and you can't then claim %age of cost of car.
you also need to decide what you are going to claim, and stick to that for as long as you have that car!

[Chatterbox Childcare]

If I decide to claim to 0.45p per mile allowance, does this then cover all other running costs: mot, insurance, service etc? x

Yes it does apart from valeting which you can claim if needed, which you will no doubt have to do

[juelmer]

Hi,
Is brake down cover included in the 45p?
Thanks,
Julie

[MrAnchovy]

Yes, everything to do with the car is included except interior cleaning due to soiling by minded children, car seats for minded children and any allowable portion of interest on a loan to purchase a car.

[MrAnchovy]

Yes, everything to do with the car is included except interior cleaning due to soiling by minded children, car seats for minded children, any allowable portion of interest on a loan to purchase the car, parking (but not parking fines) and tolls.

[juelmer]

Thank you so much for your help.