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Posted Tue, 18 Apr 2023 22:00:24 GMT by Fiona Judge
Hi - I am self employed and bought a business car in the tax year 2022-23. How do I include the purchase cost of the car on the self assessment form? I am going to declare 71% of the purchase cost, insurance, vehicle tax etc etc as this is the equivalent of 5 days use out of 7 per week. Any help much appreciated. I have read that I must declare the vehicle as a capital expenditure & create a 'pool' for the car? Very confused.
Posted Wed, 26 Apr 2023 10:23:59 GMT by HMRC Admin 25
Hi Fiona Judge,

Please see guidance here which gives you your various  options available.

Claim capital allowances

Simplified expenses if you're self-employed

Cash basis

Thank you. 

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