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New vehicle -simplified expenses

Re tax return 2020-2021

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I'm currently preparing accounts for 2020-2021. We have previously used the flat rate for vehicle expenses (old van) but half way during that year a new van was bought for £6000. No business miles were done in the old van due to covid, business picked up and new van was bought. Can I claim for the £6k for the purchase of the new van? Would I have to use actual vehicle expenditure going forward  if I did? or is there anyway of using flat rate for the new van and still claiming some of the £6k back?

sorry 
 

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RLI
By lionofludesch
27th Jan 2022 13:13

It's one or the other.

Mileage rate or actual costs.

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By Brocox
27th Jan 2022 13:41

I’m aware it’s one or the other. However I wanted to know if by using the flat rate I can claim for the cost of the van

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RLI
By lionofludesch
27th Jan 2022 13:53

Brocox wrote:

I’m aware it’s one or the other. However I wanted to know if by using the flat rate I can claim for the cost of the van

It's not just fuel, insurance and tax. The cost of the van is one of the actual costs.

So no.

At least we now know it's a van ........

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By possep
27th Jan 2022 13:48

No if you use the fixed rate you can't claim the cost of the van. TBH if you don't know that you should not be completing a tax return.

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By MCV71
14th Apr 2022 09:56

Says the person who uses Martin Lewis for advice.

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By Brocox
27th Jan 2022 16:18

Thanks for confirming. Hopefully you feel better putting me down x

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By TURNER89
28th Jan 2022 11:20

As previously mentioned, it is one or the other.

Link below might help

https://www.gov.uk/simpler-income-tax-simplified-expenses/vehicles-

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