Great company to deal with
Feedback highlights accommodating support, clear availability, and helpful service when schedules were busy.
If you are self-employed, it is important to understand which car and travel costs are allowable for tax purposes.
You may claim allowable business expenses for car, van, and travel costs, which will reduce your taxable profits. Typical allowable costs include:
You cannot claim for:
For vehicle costs, you can choose between claiming actual running costs or using HMRC’s simplified expenses, which applies a flat-rate mileage allowance.
If you purchase a vehicle for use in your business, the method of relief will depend on your accounting basis. Under traditional accounting, capital allowances may be claimed on the cost of the vehicle. If you use the cash basis, capital allowances are also available, provided simplified expenses are not being used for that vehicle. Other vehicle-related and travel costs can be claimed as allowable business expenses in the usual way.
CIGMA Accounting offices are at three places across London — Wimbledon, Farringdon, and Fulham.
Real feedback from our clients on Trustpilot and Google.