View Full Version : Can I claim for a car?
pinkbutterfly
10-02-2011, 02:34 PM
I currently have a 5 seater I use for my family and childminding. However I can only fit one extra mindee in it. I have had a number of calls asking to do school pick ups which I had to turn down due to lack of space in a car.
The question is ... if I do get a bigger car that I use only for minding can I claim some/all of it through my expenses? It would only be worthwhile if I could do that as I would have to get a loan to cover the cost of the car, insurance etc ....
you could only claim for 50% asyou will be using for personal use as well as business.....you would need to go down the AIA route {I think}
Have a search through the threads as there are a few about this....debbie will be along as she willknow more about it then me..:cool:
Chatterbox Childcare
10-02-2011, 06:33 PM
Sorry to contradict but I think Aly is talking about the seats
If you buy a new car you can claim interest back against your expenses and then you decide if to go down the .40p a mile route or by capital depreciation. this is decided by the number of business miles you do
Call out if you want more information
Sorry to contradict but I think Aly is talking about the seats
If you buy a new car you can claim interest back against your expenses and then you decide if to go down the .40p a mile route or by capital depreciation. this is decided by the number of business miles you do
Call out if you want more information
No I was talking about what oyu said but my fingers typed something completely different...:rolleyes:
lol sorry to confuse you I meant capital depretiaion but thought capital expence then though no its AIA...so there you go...it must be my blonde day today:littleangel:
MrAnchovy
11-02-2011, 03:40 AM
Sorry to contradict but I think Aly is talking about the seats
If you buy a new car you can claim interest back against your expenses and then you decide if to go down the .40p a mile route or by capital depreciation. this is decided by the number of business miles you do
Call out if you want more information
I'd like to mention three things:
you can only claim a proportion of the interest back of course, depending on what proportion of use is business use
"capital depreciation" is not the right term to use for a tax allowance: depreciation (of a thing like a car) is specifically not an allowable expense. The correct term for the alternative method of claiming for motoring expenses is the "Actual Expenses" method.
As part of the Actual Expenses calculation you can claim Writing Down Allowance (this is the tax equivalent of depreciation). The rules on Writing Down Allowances for cars (http://www.hmrc.gov.uk/manuals/camanual/CA23535.htm) are now quite complicated. You cannot claim Annual Investment Allowance for expenditure on cars.
Chatterbox Childcare
11-02-2011, 08:51 AM
The answer is yes you can