Capital alllowance used car on PCp in partnership

Capital allowance treatment on a used car on PCP which will be returned after the contract ends.

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A partnership firm takes a used car on a PCP contract. They do not intend to keep the car after the contract is over. The car may or may not be VAT qualifying. How would be the capital allowance treated. Because this is an expensive car one of the partner will have to take this car home. Which is why they do not mind to treat 20% of the use as personal. 

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By Accountant A
07th May 2018 16:13

Get yourself an accountant.

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