Advertisement
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

capital allowance on tools and Van

  • 04-08-2012 11:46pm
    #1
    Vtiling
    Registered Users, Registered Users 2 Posts: 30 ✭


    We bought a laptop for €600 for business use only and an old Van for €800. Can I put them both directly into my business expences because of their cost or do I need them write off for 8 years even the price is so small? Is there any price limit for car, computer, mobile phone (only for business use) up to which I can put all this things directly to expences and from what price I have to account them as capital allowance. I know that for car under certain circumstances(carbon emision level) the max. limit is €24000. But is there any minimal as the van wont live more than 3 years:)

    The same question is re tools. Power hammer for €350 expense or capital allowance?

    And my other question is re private car for business use. The private car is petrol and is used 60% for business and 40% for private. Can I claim 60% of parts, repairs, motor tax, insurance, toll as well?

    Thank you


Comments

  • #2
    RMTaxation
    Registered Users, Registered Users 2 Posts: 2 ✭RMTaxation


    Vtiling wrote: »
    We bought a laptop for €600 for business use only and an old Van for €800. Can I put them both directly into my business expences because of their cost or do I need them write off for 8 years even the price is so small? Is there any price limit for car, computer, mobile phone (only for business use) up to which I can put all this things directly to expences and from what price I have to account them as capital allowance. I know that for car under certain circumstances(carbon emision level) the max. limit is €24000. But is there any minimal as the van wont live more than 3 years:)

    All have to be capitalised and allowances spread over 8 years.
    If you dispose of them before this then you will get a balancing allowance in year of disposal
    Vtiling wrote: »
    The same question is re tools. Power hammer for €350 expense or capital allowance?
    Capital Allowances over 8 years
    Vtiling wrote: »
    And my other question is re private car for business use. The private car is petrol and is used 60% for business and 40% for private. Can I claim 60% of parts, repairs, motor tax, insurance, toll as well?

    Yeah sounds reasonable, you just need to have some backup for this 60/40 split to justify it.
    Wouldn't split the tolls though, as these should be identifiable as separate business/personal trips


  • #3
    starringme
    Registered Users, Registered Users 2 Posts: 58 ✭✭starringme


    Can capital allowances be claimed on cars bought in the north?


Advertisement