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Capital Allowances & (Simplified) Mileage Rates

Can the two be claimed together?

Hi A/W

If a sole trader uses their own car for business purposes, and claims / charges the business x number of miles at 45p / 25p mile - does this remove the abilities for the sole trader to claim capital allowances on the proportion of the cost of the vehicle used for the business?

My understanding was that is does, as the 45p / 25p includes an element of depreciation to the vehicle in addition to fuel, insurance elements etc.

Is my thinking correct here?

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17th Oct 2017 16:54

You either claim the 45p per mile or the business proportion of all other vehicle costs, including capital allowances.

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By Mr_awol
to scalloway
17th Oct 2017 17:11

Quote:

You either claim the 45p per mile or the business proportion of all other vehicle costs, including capital allowances.

All other vehicle costs apart from tolls, parking, HP interest, etc

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to Mr_awol
17th Oct 2017 17:32

The ones you have mentioned aren't vehicle costs, The first two are travel and the third is the cost of finance.

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By Mr_awol
to andy.partridge
17th Oct 2017 17:53

Quote:

The ones you have mentioned aren't vehicle costs, The first two are travel and the third is the cost of finance.

The first two aren't travel - especially not parking as you clearly aren't 'travelling' anywhere. At best storage.

In any case, the costs are related to the passage, storage, or financing of what, would you say..............?

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to Mr_awol
17th Oct 2017 21:23

I think you're confused. You'll be posting a train ticket to training next.

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By Mr_awol
to andy.partridge
18th Oct 2017 09:37

Nice try, but your banter/one-upmanship skills need a lot of work.

In any case, the fact remains that the costs highlighted by me are claimable in addition to the mileage rate, and the HP costs was a helpful pointer based on the OPs mention of CAs.

As for the other stuff, you keep putting parking and tolls (and probably by extension RFL and all sorts of other Motoring costs) in travel expenses and I'll keep them in MRE. Maybe one day we will all reach the utopian state of a 'Motor and travel expenses' nominal code............

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to andy.partridge
18th Oct 2017 13:08

Nonsense !

Travelling by motor car is motgoring. Travelling by train is training.

It's obvious.

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By possep
17th Oct 2017 16:54

Anonymous posts generally get ignored.

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17th Oct 2017 17:57

Anyway - to answer the question ..... yes.

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