Quick question…
We have self employed accounts which show “loss of sale assets” as £3500.00
It is my understanding that this is the money lost due to trading in his car “driving instructor”.
Am I right in stating that this is really just deprecation of a capital asset and as such should not be deducted?
However if he had a loan on the car and had to pay it back am I right in saying we could include only the capital repayment on the loan?
