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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.
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.
Posted Fri, 20 Dec 2024 15:00:44 GMT by Gill Drinkald
Thank you. I have read that and remain confused. Do I just add total of £15,594 into account software as a bill allocated to "Motor Vehicle Purchase" and if so should that be for the total amount of £15,594?
Posted Thu, 09 Jan 2025 14:30:54 GMT by HMRC Admin 20 Response
Hi,
This forum is for general queries only and is intended to help you self-serve.
We are unable to provide specific advice tailored to individual circumstances.
Thank you.
Posted Fri, 10 Jan 2025 11:32:43 GMT by Gill Drinkald
So no help at all then. I am more than capable of finding links to guidance and reading content. HMRC sets the rules; I just want to ensure that I apply them correctly but seemingly, HMRC isn't interested. So I will just hazard a guess. Don't think I will bother using this supposed "help" again!

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