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Tax Teatment of Van for Self Employed

If a van was purchased by a sole trader for 3k in Feb 2011 and Sold for 2.2k in Nov 2011 what would the tax treatment be in the Tax Return. The first tax return is 2011/12?

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25th Apr 2012 14:46

Sale of van

Claim £800 allowances less any private use.

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25th Apr 2012 16:41

When did they start trading?
?

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Not that simple

In the year - accounting year that is - of purchase the van is an addition for the general pool qualifying for AIA of 100%.

In the accounting year of sale the proceeds are added into the disposals from the pool and will reduce the level of claim for WDA purposes.

 

 

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