Can the car be sold to director in case if the car was bought by ltd company outright or by paying balloon payment for BCP? How will the selling cost be calculated?
what is the usefull life expectancy for a car for tax purposes? is there like a certain % of depreciation that HMRC would use? basically how long before I can write the car off as an asset?
Question please if you could answer asap Say company corporation tax bill is say 10k based on 50k profit at 19% I buy a 50k tesla 2023 so therefore my profit is zero there no ct tax due 3 years later i sell the tesla for 35k Do I then owe hrmc 19% on the 15k deprecation or 19% on the full sales price? Thanks Josh
