Gill Drinkald

Can anyone help me please? How do I account for this situation in a sole trader accounts for the tax year 2022/2023? Purchase of used van 02.08.2023 for £12,995 +VAT £2,599= Total £15,594 Part exchange given for traded-in van £800 How do I put this in our accounts which are done on traditional not cash basis. We are VAT registered. Thank you.

Hi, I purchased a van for £15k in Aug 2023 as a sole trader NOT using simplified expenses while waiting for decision on a grant application we had made to our local council due to the introduction of a Clean Air Zone. We received the grant £4k (approx) - how do I account for it and over how many years is it an asset? Please don't send me a heap of links I can't understand. I just want to know I am recording this correctly in the accounts. Sole Trader so have no accountant. Thank you