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shanjey33
April 24, 2025
Question

There is business motor vehicle and Amortization which was paid off after insurance(Assume Original Value). How to account for this if there is no Gain or loss.

  • April 24, 2025
  • 1 reply
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    1 reply

    sunilTT
    sunilTT
    April 30, 2025

    Hello,

    Thanks for your question.  I had some follow-up questions, did you sell this vehicle in 2024 (that you've claimed expenses for in previous tax years and capital cost allowance)?  

     

    Also, are you asking for clarification of whether the expenses for this vehicle are deductible?

     

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