Are balancing allowances still available on cars?
Sole trader business.
car in private use pool. now sold at tax loss.
Or is balance transferred to special rate pool and written down over coming years?
If there had been no private use, I assume this treatment would apply?
Replies (2)
Please login or register to join the discussion.
It should be in it's own pool (so to speak!) and then, yes, you just claim a BA on disposal.
Don't forget to scale down the BA for the private use adjustment. Apologies if this was obvious to you!