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Changing to simplified expenses

Can I change to simplified expenses if I bought another car during the fiscal year ?

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Hello, here is the case: I was using Actual Expenses for my old business car for fiscal year 2016-2017. I used my old car for the following year from April 2017 to Nov 2017 then I sold it and bought a new one which runs from Nov 2017 till present. Can I change to simplified expenses for the  2017-2018 fiscal year even if I changed the cars in the middle of the fiscal year. Or do I need to do half/half ? (half year with old car with Actual expenses and Half year with new car with simplified expenses ?)


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24th Jan 2019 09:12

Simplified expenses for vehicles works on a vehicle to vehicle basis. So use the same basis for your old car that you used previously and pick whatever basis suits best for the new one.

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