Sole Trader started trading 1 January 2011. He's using a car purchased in 2008 for €10,000. 50% business use. Can he claim €10,000 x 12.5% x 50% as a wear & tear allowance on his tax return.
What about the accounting treatment? Does the cost of the vehicle less accumulated depreciation appear on the balance sheet?
Thanks in advance
What about the accounting treatment? Does the cost of the vehicle less accumulated depreciation appear on the balance sheet?
Thanks in advance