adam marley
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new 100% electric car on pcp finance sole trader tax relief
I am aware that electric cars that have been purchased can be used for tax relief in the first year but have also read that pcp finance does and doesn't class as purchasing the car so im getting confused. I am a sole trader that got the car new in march 2024 and I use the electric car solely for work as have another vehicle for private use. can I put the full £41000 through as business expense in last years tax return? and if so does that mean I cannot use the simplified expenses for mileage use (45p a mile)