Can you put petrol down as an expense?

Rocktoitnow · 21-01-2015 12:03PM #1

Hi i'm wondering if someone can clear this up for me,

Basically i'm a sole trader and i have commercial jeep which is petrol, some people are telling me i can't put it down as an expense only diesel can be put down as an expense, is this true?

Now i asked my accountant and he said you can, but then i asked a person i know who owned a courier service and he said no, if anyone can clear this up that would be great or if they could point me in the right direction! Thanks...

Bandara · 21-01-2015 07:36PM

Rocktoitnow wrote: »

Hi i'm wondering if someone can clear this up for me,

Basically i'm a sole trader and i have commercial jeep which is petrol, some people are telling me i can't put it down as an expense only diesel can be put down as an expense, is this true?

Now i asked my accountant and he said you can, but then i asked a person i know who owned a courier service and he said no, if anyone can clear this up that would be great or if they could point me in the right direction! Thanks...

Yes of course, once it falls within the revenue guidelines

http://www.revenue.ie/en/business/running/allowable-expenses.html

barneystinson · 21-01-2015 09:31PM

You're getting confused between a deductible business expense (which petrol used for business purposes is), and a VAT deduction (which petrol isn't).

Can you put petrol down as an expense?

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