Vehicle Depreciation


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May 23, 2013
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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
 
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Joined
Jun 29, 2010
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Sandra, you don't include it, except if you are looking to claim capital allowance on the asset.
 

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