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Posted Mon, 15 Apr 2024 14:48:55 GMT by Paul Sharpe
Hi, my tax return is generally very straightforward. I use cash basis (not simplified) and I don't earn enough to worry about VAT. This last year my wife used a pension lump sum to purchase a van which is used solely for my cleaning business. She is not a business partner, it was a loan to me. I am paying her back. I'm assuming I can put this on my tax return. My question is where do I enter this repayment on my tax return and do I enter it as one lump sum or can I enter it as an ongoing repayment, which it will be until I've paid it back. Also is it advisable to put a note on my return regarding this and if so where. There is no interest to pay back only the exact amount of the van cost. Thank you for any help.
Posted Tue, 23 Apr 2024 09:36:22 GMT by HMRC Admin 32

We can only provide general information and guidance in this forum.  
For an answer to a detailed question of this nature, you would need to contact our self assesment team using the link below or seek professional advice.

Self Assessment: general enquiries

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