Vehicle exp - clarification required please.

Anne Boleyn
Anne Boleyn Registered Posts: 196 🎆 🐘 🎆
in General accounting discussion
Hi everyone,
My question is concerning vehicle expenses. I know there are two options in claiming expenses, either 40p/25p or % of receipts but somewhere down the line I was told that if you claimed one way you couldn't change it unless or until you changed your car. Is this true or was it a dream ?

If anyone knows I would appreciate any guidance.

Thanks in advance.

Comments

  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    Yes, once you choose either the ppm or the apportionment basis, you have to stick with it until you change your vehicle.
  • Anne Boleyn
    Anne Boleyn Registered Posts: 196 🎆 🐘 🎆
    Faerie9

    Thanks. Glad to know I wasn't dreaming.
  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    You weren't - but don't ask me to find the chapter and verse, as I haven't a clue!:001_tt2:

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