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Posted Wed, 19 Jan 2022 13:37:32 GMT by jose reina
Hello there, In June 2020 I bought a brand new van. I paid a deposit and then I am paying it on monthly payments. My questions are: If I put this van as a capital allowance, the price of the van to make the calculation would be with or without VAT ( I am not VAT registered)? and could I claim the running cost of it (insurance, diesel, etc with no flat rate method)? And if I put it as expensive, could I claim the deposit plus the monthly payments (maximum £500 interest)? and claim the running cots as above? I am on the cash basis method. Many thanks for your time and help.
Posted Wed, 19 Jan 2022 15:41:03 GMT by HMRC Admin 17

Hi,
 
Please see guidance here regarding claiming for vans etc while using the cash basis:

Cash basis .

You can record the expense to include the VAT.  

Thank you.

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