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If I purchase a van may I claim this against my properties' capital gains?

If I purchase a van may I claim this against my properties' capital gains?

Can I purchase a van and claim this against capital gains on my properties?

 

Arthur Weller Replies:

The purchase price of the van cannot be claimed against capital gains incurred by the sale of your properties, but you can claim capital allowances against any rental business profits from them. Here is a quote from
http://www.hmrc.gov.uk/manuals/pimmanual/PIM2210.htm. ‘Capital expenditure on providing the means to travel (usually a car or van) isn’t deductible in computing rental business profits; nor is a depreciation charge. But plant and machinery capital allowances may be available. These allowances are deducted in computing the business profit or loss. The ‘wholly and exclusively’ rule applies to these allowances but, as with revenue expenditure, the landlord can claim the business proportion of the allowances.’
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