HOW MUCH TAX CAN YOU CLAIM BACK ON A VAN? SELF-EMPLOYED SPECIAL

Buying a van for your business and not sure how the tax relief works? In this video Dan runs through how you can claim tax relief on your work van. Topics include: Capital allowances on a business van Annual investment allowance for van VAT on van for business Self-assessment tax return Cash basis Accruals basis Motor expenses HMRC mileage rates / Fixed rate mileage 00:00 Intro 01:00 Hire purchase and cash purchase 01:18 Leasing and renting a van 02:15 Motor costs for self-employment 03:12 The cost of the van and Capital Allowances 04:15 Two ways to do your tax return 05:30 VAT van costs 06:05 How it works on an existing van 07:00 Selling the van next year 08:18 What is better lease or buy 09:10 Summary … and more! If you have any questions or thoughts on this, please comment below. Subscribe to our Podcast on Spotify and Apple: “The HeelanHub Podcast” - a show for small business owners. Join our mailing list for tax tips at: www.heelanassociates.co.uk You can see more about what we get up to as an Accountancy Business on the following: LinkedIn (Dan):   / danheelan   Instagram (Dan):   / danheelan   Twitter (Dan):   / danheelan   Instagram (Company):   / teamheelan   Facebook (Company):   / heelanassociates   Twitter (Company):   / heelanassocs   Web: https://www.heelanassociates.co.uk Call: 02392 240040 Email: [email protected] #accounting #smallbusinessuk #tax Note: As always, these videos are educational and should not be considered financial advice. Seek professional advice.