If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Sole Trader Ending - writeoff for car repair

worc · 2012-06-30 14:19:07

I'm finishing up as sole trader in about 2 months and taking on PAYE employment. At the start of the year my car that I use for the business needed €300 worth of work done to it - I use the car 75% for business and had talked to my accountant and he said I could write 75% of that 300 off against tax for this year. Now it's…

30-06-2012 2:19pm

#1

worc

Registered Users, Registered Users 2 Posts: 182 ✭✭

Join Date: May 2010

Posts: 144

I'm finishing up as sole trader in about 2 months and taking on PAYE employment.

At the start of the year my car that I use for the business needed €300 worth of work done to it - I use the car 75% for business and had talked to my accountant and he said I could write 75% of that 300 off against tax for this year.

Now it's just entered my head that since I am winding down 8 months into the year (so car only used for 66.6% of the year for business) should I only be writing off 75% of 66.6% of the 300?

So total repair bill of: €300
Car used for 66.6% of the year for business: €199.80
75% of this 66.6% then is: €129.87

So I should only be claiming €129.87 off against tax?

EDIT: Sorry should say I know I can talk to my accountant but he's away now for at least a week and I'm trying to tidy up my own excel files now and work things out.

0