retired_adriana6

don't see much point in Tax Calc, can just plug the figures straight into the Rev website anyway

retired_manpk1

Best thing to do would be to keep a spreadsheet of income and expenditure.

Get your tax return to the revenue before 30 Septmber (too late for this year obviously), and let them calculate the tax.

retired_abess

That's what I've decided to do.

As there are so many knowledgeable types here....

I bought a car last year for £12000, brand new. How much of that can I use against tax? The car is used for work 95% of the time, personal 5%.

retired_dbd

Excel will be more than enough. I do a mates books and what not on that.

retired_eoconnor

That's what I've decided to do.

As there are so many knowledgeable types here....

I bought a car last year for £12000, brand new. How much of that can I use against tax? The car is used for work 95% of the time, personal 5%. </BLOCKQUOTE>

I'd have to charge you £100 to tell you.

retired_kotikaka

Dont pay tax and just hope you dont get caught and if you do the tax office will come back and ask you for exactly how much you are due anyway

retired_kevh16

That's what I've decided to do.

As there are so many knowledgeable types here....

I bought a car last year for £12000, brand new. How much of that can I use against tax? The car is used for work 95% of the time, personal 5%. </BLOCKQUOTE>

I'd have to charge you £100 to tell you. </BLOCKQUOTE>

Such an accountant. Unfortunately I haven't done any tax yet so couldn't tell you even if I wanted to.

retired_eoconnor

Well I wouldn't be up on the rules in the UK anyway so it was a more "egotistical" way of me saying I don't know.

I could tell you what you could do in Ireland though.

retired_manpk1

You can claim capital allowances of 25% on the value of the car, multiplied by the business rate.

So, for the first year, that 12k @ 25% * 95% = 2850.
Second year, car is valued at 9k (12k less 25%), so you claim 9k @ 25% * 95% = 2138

By the way, if the car cost you slightly more than 12k, you can claim only 3k (special rule with cars).

Also, I doubt the Inland Revenue would accept your claim of 95% business usage. If they ever investigate your returns (which they are likely to do at some stage), best to have details of mileage used to prove your assumption

retired_linton_justin

aye, remember travelling to & from work is deemed "private" mileage and not "business" mileage so any miles you do going to & from your saucy 17 year olds isnt business mileage.