Re: S/E Van purchase...........


"puzzled van man" <bargainseeeker@xxxxxxxxxxx> wrote in message
news:1135973008.100084.45190@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> Run a small one man light haulage company with a single contract
> Newspaper distribution contract.
> Couldn't raise the finance for a Van purchase so my partner took a
> personal bank loan out which I pay her the monthly repayment over 3
> years.
> Can I claim the annual loan payments on my return even though it's her
> bank loan.
> The Van is in my name and solely for my 100% business use.
> Appreciate your advice.
> Thanks in advance.
>
Personally, I'ld say yes - claim it on the grounds that, whatever the
paperwork says, it was for your business. If the tax man ever enquires into
your return (i.e. checks over it and asks for papers) then he may reject it,
but there is ample grounds to argue the toss.


--
Paul Garbett
Garbetts Ltd - accountants
www.garbetts.com


.

Relevant Pages

  • S/E Van purchase...........
    ... Newspaper distribution contract. ... Couldn't raise the finance for a Van purchase so my partner took a ... personal bank loan out which I pay her the monthly repayment over 3 ...
    (uk.business.accountancy)
  • Re: S/E Van purchase...........
    ... >> Newspaper distribution contract. ... >> personal bank loan out which I pay her the monthly repayment over 3 ... >> The Van is in my name and solely for my 100% business use. ... Doobie Doobie Do, ...
    (uk.business.accountancy)