Self Employed

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  • #22126

    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?

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