Welcome to the TAP business school!
Claiming for vehicle expenses can become a bit of a minefield for businesses. There are different rules and recommendations depending on your business structure, so in this guide, we're covering the specifics for sole traders and partnerships.
If you're a limited company, we have a guide designed just for you here: /watch/Qy76T0rFR9lF6
In this video, we'll cover the following:
- Introduction (0:00)
- Claiming expenses on vehicles bought solely for business use (0:25)
- Claiming expenses on vehicles sometimes used for personal use (0:42)
- Simplified expenses for vehicles (1:27)
- HMRC's flat mileage rates (1:35)
If you've found this video useful, you might also like these guides:
Bookkeeping for Sole Traders: /watch/49C6_jEyuwfy6
Business Expenses: /watch/8CSxAROAWSbAx
What Are Simplified Expenses? - https://www.theaccountancy.co.uk/expenses/what-are-simplified-expenses-47649.html
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At The Accountancy Partnership we provide client focused, complete online accountancy services for a low monthly affordable fee.
Based in Cheshire & London, we offer our online accounting services nationwide, throughout the whole of the UK.