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Thank you very much for that.
I have another question please.
I have an electric car for my business as a sole trader (driving instructor).
I am on a smart tariff for my electricity and I am considering purchasing solar panels and a home battery storage system.
The plan is that I can charge the batteries with the solar panels and when there isn't enough solar I can then charge the batteries on an "off peak" rate £0.75p (7.5p) per kWh which is 4x cheaper than the "peak" rate £0.3023 (30.23p).
I already charge my car in the "off peak" rate but the car's battery isn't big enough to last the whole day so I often charge the car in the day time during the "peak" rate. The plan then is to charge my car (for business use) from the battery & solar system during the day peak rate of my fixed smart tariff.
By doing this I would save on average £76 per month on my business use.
Would (one or both) of the purchase of the solar and the battery system be a valid business expense minus the personal use portion please?
I am self employed driving instructor as a sole trader and I have purchased a car to use for teaching.
Am I allowed to use simplified expenses as apposed to using capital allowances please?
Thanks in advance