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Can Van Insurance be offset against tax
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Big Dave @ CWC
Cleanitup Full Member
Posts:
95
Can Van Insurance be offset against tax
«
on:
October 01, 2008, 11:06:54 pm »
I've been doing my own Tax returns the last three years, just wondered after seeing a post about tax on this board,
i've been writing my van insurance down as an expense to be 100% deductable, am i really allowed to do this? or have i been taking the pxxs?
i used it 100% for work purposes, as i have a car for private use...
Dave
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mci services
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Re: Can Van Insurance be offset against tax
«
Reply #1 on:
October 01, 2008, 11:30:22 pm »
hope so i do the same as far as i know a van is classed as plant and is 100% tax deductable same for the fuel
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Big Dave @ CWC
Cleanitup Full Member
Posts:
95
Re: Can Van Insurance be offset against tax
«
Reply #2 on:
October 01, 2008, 11:34:13 pm »
at least im not alone then, otherwise after investigation the taxman will asking for a cheque for three years insurance lol
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Re: Can Van Insurance be offset against tax
«
Reply #3 on:
October 01, 2008, 11:43:39 pm »
think its right if not i will be having words with business gateway as it was them that told me it was ok
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AuRavelling79
Cleanitup Global Moderator
Cleanitup God
Posts:
25351
Re: Can Van Insurance be offset against tax
«
Reply #4 on:
October 02, 2008, 09:39:14 am »
Van insurance yes - cars - proportionate to business use.
(But if the van is your only vehicle then you might want to consider a proportionate split between biz and private use - but the fact you use a van shows that it is primarily for biz. (and camping and mountain biking and surfing and sleeping in when you've had a row etc)
If you've two cars like we did (Me and Mrs Gold) and one is used for biz, the other for the family then that's easier to justify 100% of the car for biz.
Which is my longwinded way of saying that as you've got two vehicles you've got no problem.
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Can Van Insurance be offset against tax