If you바카라 사이트™re a sole trader or partnership there are 2 ways you can calculate business expenses for vehicles, working from home and living on your business premises.
You can either:
- use simplified expenses
- calculate your expenses by working out the actual costs
Use this checker to work out which method is best for you.
What you need to know
You바카라 사이트™ll be asked to make estimates about some of your business expenses.
This tool:
- does not give exact figures to use in your tax return - it tells you which way of calculating expenses might save you money
- can only give an answer for one vehicle at a time - if you have several vehicles, start at the beginning for each vehicle
Who cannot use this tool
Do not use this tool for vehicle expenses if:
- you use cash basis and you바카라 사이트™ve already deducted your vehicle as a capital cost
- the vehicle you바카라 사이트™re claiming for is used by an employee and you pay tax on it as a benefit
- you바카라 사이트™re claiming for a car and you started using it for your business before April 2015
You have to be a sole trader or business partnership with other people - limited companies or business partnerships that have a corporate partner cannot claim simplified expenses.