C
Catipillar
Guest
I'm a sole trader and want to write off some turnover. If a purchase a commercial vehicle then I get a capital allowance of 12.5% over 8 yrs on the asset.
However, if I lease the vehicle and don't own the asset at any stage - can i write off the deposit and monthly repayments as an expense?
Would this work to reduce my income tax bill in March?
However, if I lease the vehicle and don't own the asset at any stage - can i write off the deposit and monthly repayments as an expense?
Would this work to reduce my income tax bill in March?