Used Car Depreciation

Used Car Depreciation

Didn't find your answer?

Might be a silly question but ...

My client bought a car instalments from company he is working for as self employed.

The value of the car is £2,000 and he pays £200 monthly.

Is there any point of allocating this vehicle as a fixed asset?

If yes how many years the depreciation should take?

Many thanks for all your comments

Replies (1)

Please login or register to join the discussion.

By johngroganjga
18th Aug 2014 14:46

Yes it's a fixed asset for accounting purposes, and the period over which it should be depreciated, as always, is its expected useful life.

Thanks (0)