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Subject Topic: Self Employed Question!
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01/10/2013 at 1:26pm
 Location: Suffolk
 Outfit: Lots of Tents both big and small
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I am currently self employed. Next year i need to get myself a new computer and a new car for business purposes. Does anyone know if a % of the cost can be taken off my total earnings for the tax year?

Thanking you in advance x

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If life gives you lemons throw them at someone :)


01/10/2013 at 1:41pm
 Location: South Yorkshire
 Outfit: Elddis Avante 586 2017
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If your computer is for the business then the whole of the expense can be deducted, your car can work one of 2 ways.... You can either claim per mile which I think at the moment is 45p per mile or you can do it on a percentage of its worth but that's more complicated that way, I do it per mile


01/10/2013 at 1:44pm
 Location: South Yorkshire
 Outfit: Elddis Avante 586 2017
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This might be worth a read it explains quite a bit on here.


01/10/2013 at 1:45pm
 Location: Suffolk
 Outfit: Lots of Tents both big and small
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great!! Thank you shelley! Does that mean keeping track of my milage for the entire year?

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If life gives you lemons throw them at someone :)


01/10/2013 at 1:58pm
 Location: sunny south east!
 Outfit: Coachman
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As Shelley has pointed out there are options and generally you will be OK using the Approved mileage rates although technically they are not for self employed people, HMRC have historically allowed this however but yes you need to be able to show a mileage record to support any claim if queried by HMRC

You may be better claiming all motoring costs and applying a private percentage adjustment on your tax return. You can also then claim capital allowances on the cost of the actual car and also claim for finance costs of the car if relevant (loan interest for example)

A decent accountant will more than pay for themselves but I would recommend you do have a good look at the HMRC site and maybe federation of small businesses and chamber of commerce sites which also offer some good advice for new businesses


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01/10/2013 at 2:02pm
 Location: Bath
 Outfit: Bailey Palermo & Kampa Brean
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yes you will need to keep a log of miles

it might also be worth looking at car leasing options too as you may find that more cost effective as you can ofset as business expense....and if you are vat registered you can get that bit back too.

best consult an accountant.


01/10/2013 at 2:37pm
 Location: Suffolk
 Outfit: Lots of Tents both big and small
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thank you all very much! Great advice x

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If life gives you lemons throw them at someone :)


01/10/2013 at 7:10pm
 Location: Bolton Lancs
 Outfit: Bailey Orion 430-4 & Mitsubishi PHEV
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I bought my caravan to use for work (instead of hotels) accountant reckoned i can write the value off in 3-4 years



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