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Tax savings

Dboy · 2008-10-08 21:01:32

I am a sole trader currently planning to finish up my courier business. I have an outstanding loan on my van. if I sell the van before winding up the business and am left with a five grand loan can I put the outstanding 5 grand loan down against the business to save on my tax bill

08-10-2008 9:01pm

#1

Dboy

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I am a sole trader currently planning to finish up my courier business. I have an outstanding loan on my van. if I sell the van before winding up the business and am left with a five grand loan can I put the outstanding 5 grand loan down against the business to save on my tax bill

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Comments

#2 09-10-2008 8:31am

Mr. Incognito

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There is a cap on the tax write down value of a van. have you been claiming capital allowances? How long have you had the van before you sold it?

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