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Car ownership for sole trader

Connacht · 2025-01-06 21:27:52

Folks, Does a car used by a self-employed sole trader have to be owned under the name of that self-employed person, or is it ok if the name on the vehicle registration cert is the spouse's? For the purposes of allocating depreciation to the work-related non-commuting useage. Thanks.

06-01-2025 10:27PM

#1

Connacht

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Posts: 356

Folks,
Does a car used by a self-employed sole trader have to be owned under the name of that self-employed person, or is it ok if the name on the vehicle registration cert is the spouse's? For the purposes of allocating depreciation to the work-related non-commuting useage.
Thanks.

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Comments

#2 08-01-2025 12:54PM

SureYWouldntYa

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The cost of the vehicle wasn't borne by the sole trader so it's hard to justify
For tax purposes you cannot claim depreciation but instead claim capital allowances on the cost over 8 years
The mileage incurred could be justified as an expense, but the capital outlay wouldn't be in terms of claiming capital allowances

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