You’re offline. This is a read only version of the page.
Hi thanks for that but the reason I posted on the forum was to get a clearer understanding rather than having to wade through documentation that is hard to understand.
Do you have any examples ?
IE Jack the plumber sells his van and purchases a new one type of thing
I am self employed and do my accounts on a cash bases and I am no VAT registered
I bought a van 5.5 years ago for £8400 (vat included) then sold it privately for £5000
I then bought a new van for £16200 (vat included)
So can you tell me my tax implications on the £5000 sale of the old van to the £16200 purchase of the new van