Vehicle Depreciation

[sandra173]

Hi,
I have just started back after several years and need some clarifiaction on vehicle purchases.
If a company buys a vehicle costing £15000 with a trade in of £2500 should it be the £15000 (less the VAT) that I put through my motor vehicle account or should I also deduct the trade in value.
The employee previous to myself deducted the trade in value but I think this is incorrect.
thanks,
Sandra

 

[chinweike]

Sandra, you don't include it, except if you are looking to claim capital allowance on the asset.