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Posted Thu, 20 Jan 2022 12:12:43 GMT by Sidney C
I changed my car, which I used almost exclusively for business use. The 6% WDA was applied throughout the time I had the car, resulting in its value for tax purposes of approximately £19400 when I traded it in. Because of the high mileage the best I could get for it was £5000. Am I able to set 6% of the £14400 loss against this tax year?
Posted Fri, 21 Jan 2022 12:25:20 GMT by HMRC Admin 10
Hi

Please see guidance here about balancing charges/allowances when you switch cars.

Capital allowances and balancing charges (Self Assessment helpsheet HS252)

Thankyou.

Regards.
 

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