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  • RE: Lease van sale

    Hi thanks for the reply, Yes there was no option to buy at the end, I either had to sell privately or give it back to them to sell on my behalf. I sold privately and the money was payed directly to me. I've payed the balloon payment which goes as an expense. So the question is does 100% of the money I received for the sale of the van get put down as business income and taxable?
  • RE: Lease van sale

    Admin 17, Thanks for the reply, I've read the helpsheet but it doesn't mention anything about lease hire vehicles. I've always had an accountant do my books and this is the first return that I'm submitting on my own. As I've not actually purchased the van there was no purchase cost just a deposit. Does the capital allowance still apply?
  • Lease van sale

    Hi, My lease van contract has ended and I've had to sell the van as I'm not allowed to keep it under the contract. I've paid the balloon payment. The van sold for £13,500 The balloon payment was £8,500. As I'm self employed does the money from the sale get put though the books as business income ( therefore taxable)?