Help Motor expenses

System
System Posts: 100,534 🤖 Admin 🤖
edited 12:08PM in AAT member discussion
Hello

I am new to the forum and wondered if anyone could help me.

I have a client who has a B & B. The car is part of fixed assets and has a NBV of 7000 at the start of the period (its a 15 month period).

Repairs to the car have come to approx 7000, a new engine and new parts etc, I have all the receipts, a lot of them came from the USA. Would you put all of this amount through or only a percentage.

A confused Charlotte :?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help Motor expenses

    Hi Charlotte

    You would need to ascertain what percentage of costs relate to business, and what to private usage. An alternative way to doing things is on the 40p per mile basis.

    As the parts have come from USA, it would suggest to me that it is a somewhat special car, so perhaps more for pleasure than for business :wink:

    Claudia
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help Motor expenses

    Hi Claudia

    Thank you, I thought something along those lines the car is sporty.

    I will work put the percentage for business use. :D

    Charlotte

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