Bring in HP car finance already started 18 months ago
Preparing a personal tax return. Want to bring in clients personal car for business use. HP already started 18months ago. Do I bring in car at market value and ignore hp repayments. Or bring in car at HP loan value after 18months (i.e. what originally paid for car less finance repayments over 18months) and continue to allow tax relief on HP interest?
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