AIA on private use asset?

JodieR

I'm pretty sure I'm right here, but can someone please confirm that I can claim AIA on an asset with private use, so long as it's restricted by the private use %?
Thanks!

claudialowe

It depends on the asset - cars do not get AIA - I think that most others do!

Claudia

[Deleted User]

I claimed 50 % AIA for my PC and desk as I work from home and use the PC for personal use also. Not sure about cars though. Best just charging 40p a mile for business use if you are unsure.

Gem7321

Don Juan wrote: »

Best just charging 40p a mile for business use if you are unsure.

It completely depends on the circumstances. This might be the best solution for say, a sole director who has a very expensive company car, but for a sole trader who knows he has 30% PU it might be best to show the car in the balance sheet and claim 70% of the P&L costs and 70% of the CAs.

I think you should work out the most tax-efficient method on an individual basis and if you're unsure get some advice.

Bluewednesday

Especially as a sole trader above the VAT threshold can't use the mileage rate to my knowledge

Gem7321

Absolutely