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Tax treatment of Used Vehicle

TTDublin · 2013-11-08 10:46:44

When I set up a new business I had a car - as I was unemployed it was off the road so I only use it for work purposes - mostly I'm on the road and I have a home office. (wife has a car) It's 6 years old. How do I treat it for capital deprecation in tax. It won't last 8 years so doing 12.5% doesn't sound like the way to go…

08-11-2013 10:46am

#1

TTDublin

Registered Users, Registered Users 2 Posts: 31 ✭

Join Date: August 2009

Posts: 23

When I set up a new business I had a car - as I was unemployed it was off the road so I only use it for work purposes - mostly I'm on the road and I have a home office. (wife has a car)
It's 6 years old.
How do I treat it for capital deprecation in tax. It won't last 8 years so doing 12.5% doesn't sound like the way to go as it will be knackered in about three years. Can I just take a market value of it today and divide it over three years.

Thanks for any pointers

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