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2017 Purchase of Car

  • 10-11-2017 08:35AM
    #1
    DamienOB
    Registered Users, Registered Users 2 Posts: 209 ✭✭


    Hi all,

    My father is a self employed. He is thinking of purchasing a car for the business. He's been doing some googling and is wondering about Capital Allowances.

    If he bought a car for 15k. He wants to know if he earns 50k, has purchases of 10k for profit of 40k.

    Can he also take the 15k off as a purchase? to reduce his profits to 25k? Or is this soley done through Capital allowances?


    Thanks,
    Damien


Comments

  • #2
    exaisle
    Registered Users, Registered Users 2 Posts: 2,676 ✭✭✭exaisle


    Eh...no, he can't.

    If he buys a car with low emissions (Category A, B or C) and uses the car for, say 50% business use, then he can claim the 50% x 12.5% x €24,000 (ie €1500) in Capital allowances regardless of what the car cost.

    If he buys a car in Category D or E he can claim a maximum of half the above amount.

    He should speak to his accountant, not his son. ;-)


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