work and pleasure vehicle

[polish pete]

finally I've got my Isuzu Rodeo pick up! No more white van for a while . My question is: how does it work with using vehicle for both work and after work? Can I claim vehicle and insurance in my expenses? Or do I need a separate car used for leisure/pleasure only to be able to claim pick up in my tax return expenses?

cheers

 

Peter

[richy_B]

I would use the vehicle purely for work...

[Suffolk-Matt]

I would use the vehicle purely for work...

 

Richy has it.

[xaby]

Depends, are you Ltd Co or self employed

 

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[Coletti]

In short yes, you can put fuel, insurance and repairs etc against tax but only at a percentage depending on how many business to leisure miles you do, I think I'm claiming around 80% as I too use mine for leisure but not much as the Mrs usually drives

[Stephen Blair]

It's % thing.

If it's your only vehicle then even going to the shops is private use.

Be realistic and then knock a little bit off aswell to be on the safe side .

You can make up whatever you want, when the day comes you are sitting across a desk from the tax man, honesty is the easiest policy.

I'm with Colletti:)

 

 

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[Andrew Gale]

I was told by my last but one accountant to keep a diary of work vs pleasure use; as Stephen's just said you've got to be realistic. If you ever do find yourself sat opposite the tax man you can hand over evidence of your claims etc.

[doobin]

A good accountant will advise upon a suitable percentage.

[Ty Korrigan]

Keep a wee log book with the dates, time, distance of your private mileage as this should be the lower of the 2.

Ty

[polish pete]

Thanks for your replies guys!

so with one vehicle I decide on percentage of commercial use and then I can claim this much percent of vehicle value when bought and insurance costs? plus usual travelling rate per mile?

At the moment I have to insured vehicles as my old van was a bit unreliable and I had an opportunity to buy very cheap Honda CRV to use when van was in garage. I'm still thinking is it worth to keep a second car to keep all the paperwork clear (work vehicle/leisure vehicle) or save on second insurance which is 0 years no claims, quite expensive.