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Sole Trader accounting for used van purchase

Answer
Gill Drinkald
Posted Fri, 13 Dec 2024 18:30:41 GMT by Gill Drinkald
Can anyone help me please? How do I account for this situation in a sole trader accounts for the tax year 2022/2023? Purchase of used van 02.08.2023 for £12,995 +VAT £2,599= Total £15,594 Part exchange given for traded-in van £800 How do I put this in our accounts which are done on traditional not cash basis. We are VAT registered. Thank you.
Answer
HMRC Admin 19 Response
Posted Fri, 20 Dec 2024 12:47:34 GMT by HMRC Admin 19 Response
Hi,
You can see guidance here:
Claim capital allowances
Thank you.
Gill Drinkald
Posted Fri, 20 Dec 2024 15:00:44 GMT by Gill Drinkald
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