Can anyone help me with driving instructor query?

Market value of car and training costs

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Hi all

I wonder can anyone help me please?  How would you determine the market value of a driving instructors car, they only started trading in June 2017 but bought the car in 2015 when they started their training (it takes 2 years to train), I have the purchase price which was £4,500.

The other thing is his training, he didnt pay any money for this as his brother has been an instructor for years so provided his training free of charge, normally this would be between £2,000 - £4,000, he just incurred travelling expenses to meet his brother for training around 300 miles away. 

Since he didnt actually pay anything for his training, there are no expenses there but can he still claim for expenses for getting to and from the city he met his brother going back 2 years before trading?

 

Many thanks in advance

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By possep
22nd Jun 2018 09:05

In my experience the client had three stages of training and was able to instruct after stage one. The initial training was capital and the subsequent costs of two later training stages were allowed in the P & L. The car I expect would be at market value at commencement and the costs to travel to train would be capital.

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