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Posted Mon, 03 Jan 2022 15:19:31 GMT by Dave_jh
I have a Carried forward figure of £26090 I sold the Taxi on 3/10/2020 for £27700. Am I due any allowance if so How do I calculate it. I know its at 18% rate and Its 75% business use 25% personal use. Im getting in a right muddle.
Posted Wed, 05 Jan 2022 16:56:56 GMT by HMRC Admin 10
Hi Dave_jh

Please see guidance here on either balancing charges or balancing allowances:

Capital allowances and balancing charges (Self Assessment helpsheet HS252)


Posted Thu, 14 Jul 2022 10:27:27 GMT by Sazid Mohmed
Hi HMRC can Uber driver (private hire drivers) run their business through LTD companey?
Posted Fri, 15 Jul 2022 17:05:59 GMT by HMRC Admin 10
You can claim plant and machinery allowances if you have a business and you buy assets for that business which you keep to use in that business.
You can claim if you’re:
a partnership
a company or organisation that pays Corporation Tax
a landlord — but not for residential properties that are not holiday lets
an employee who buys equipment that you need to do your job, because your employer does not provide the item — not cars, vans, motorbikes or bicycles.
It would then be your choice if you wish to change to a limited company.

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