Are any UK webmasters setup as a sole trader ?

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • Paul
    Confirmed User
    • Nov 2002
    • 2637
    #1

    Are any UK webmasters setup as a sole trader ?

    My accountant tells me that as a sole trader if you buy a car for your business, its a complete tax writeoff. This also applies for the car insurance, car tax and most expensives that you would have for your car (if its used for business.

    Can anyone confirm this who is setup as a sole trader ? Reason I ask is because when I did my business coarse for setting up my business earlier this year the representative from the Inland Revenue specifically said that a car purchased for your business was not a tax writeoff.

    So im looking for confirmation here ? is it or isn't it ?
    Tags: None
    • TORTOISE
      Confirmed User
      • Aug 2003
      • 734
      #2
      Hi i,m not in the uk any more ,but it worked like this in the past ,firstly only so much of the car was written off for tax ,as you may use it privately as well, unless you can prove it was for biz only ,like a sign written van,
      secondly the tax is written off like over 3 yrs as a like wear and tear of that asset,

      ps ask if you should go limited company route too ,as it gives you a lot of protection..hope that helps a little

        Comment

        • Johny Traffic
          Confirmed User
          • Apr 2003
          • 5461
          #3
          My accountant tells me that as a sole trader if you buy a car for your business, its a complete tax writeoff. This also applies for the car insurance, car tax and most expensives that you would have for your car (if its used for business.
          You need a new accountant


          hosted flv's, hosted galleries, morphing rss feeds, free content, free sites, hosted blog

            Comment

            • Paul
              Confirmed User
              • Nov 2002
              • 2637
              #4
              Originally posted by Johny Traffic
              You need a new accountant
              This is what Im currently thinking I tend to believe the facts from the Inland Revenue over this accountant. On all the info I have about a sole trader and the guidelines of allowable and non allowable business expenses there is nothing printed about a car being a tax writeoff which he insisted it most certainly was.

              Can anyone else confirm my accountant is talking out of his ass ?

                Comment

                • Tipsy
                  Confirmed User
                  • Jul 2001
                  • 6989
                  #5
                  A car can NOT usually be written off 100% for tax as has been stated. If you can prove without any doubt that it is only ever used for business you *may* just get away with it but even that is doubtful and more or less impossible to do.

                  Get a new accountant.
                  Ignorance is never bliss.

                    Comment

                    • Paul
                      Confirmed User
                      • Nov 2002
                      • 2637
                      #6
                      Cheers for the info Tortoise & Tipsy

                        Comment

                        Previous template Next
                        Working...