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sole trader - replacing private car

mickdw · 2015-11-01 12:11:34

Ok. I have been claiming a portion of my private car costs against business expenses for years. All fine there. I'm now thinking of changing car and there is a balancing calculation to be done based on price car was sold for and and outstanding tax claim available on the car. Again all fine. My question. When buying and…

01-11-2015 12:11pm

#1

mickdw

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Join Date: December 2007

Posts: 23242

Ok. I have been claiming a portion of my private car costs against business expenses for years. All fine there.
I'm now thinking of changing car and there is a balancing calculation to be done based on price car was sold for and and outstanding tax claim available on the car. Again all fine.
My question. When buying and selling, do I need to use a dealer for record purposes or can I sell my car privately or indeed buy privately?
And secondly, is there any issue with buying used as opposed to new. I bought new previously, and could claim 3k per year for 8 years if full business use. I was claiming only a portion of that.
If a buy secondhand and buy a car in suitable tax band, can I again claim for a further 8 years from when acquired - does the age of the car matter?

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