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Tax Deduction - Car - Sole trader

  • 16-03-2023 11:32am
    #1
    aidanclif
    Registered Users, Registered Users 2 Posts: 3 ✭


    Hi,


    I am currently a PAYE worker working in the private sector. I also have a side business and am trading as a sole trader. My queries relate to expenses I can claim for my car.

    Details are as follows:


    Car is owned personally (not by the company)

    Car is a 2018 VW Passat - bought in early 2022 for 25k

    Car use for sole trader business - approx 80%

    Company started trading in November 2022


    I have read some conflicting information in regards to expenses claimable. Can the official published public service rate be used for the Km's travelled or do I claim a % of all costs for the car?

    As I am paying interest on a loan for the car - is a % of this also claimable?

    Can I claim a % of the depreciation of the car?


    Thanks for your help and apologies if this has been asked previously.



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