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Accelerated Capital Allowance Question

  • 12-09-2023 11:02am
    Registered Users Posts: 7

    Hi all, my apologies for this topic that might be better off in the taxation section but I'm guessing someone here has dealt with this.

    I'm self-employed and have I think the option of benefiting from the Accelerated Capital Allowance to buy a new EV. In over twelve years self-employed I haven't made a tax claim for depreciation of my car because I make a tax claim based on my business miles.

    I know that if I was to claim relief for the ACA I wouldn't be allowed to make a mileage claim for 2023 return. My question is: would making the claim in 2023 tax return tie me to actual wear and tear claim (as opposed to based on civil service mileage claim) for eight years or one year?

    I presume it's eight years but if anyone knows differently, I'd be glad to hear.



  • Registered Users Posts: 11,385 ✭✭✭✭the_amazing_raisin

    I honestly have no idea, sorry, but this sounds like a question your accountant should be able to answer

    "The internet never fails to misremember" - Sebastian Ruiz, aka Frost