Gill Drinkald
Joined: 10/17/2019
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Self assessment/recording van purchase/accruals basis accounting
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