As a partner in my firm I am technically self-employed. We took the decision that partners would buy their cars with their own money but all the running expenses would be met by the firm. The accountant makes a judgement each year as to what proportion of the running costs can be offset against tax. As my partner and I have wives with family cars the vast majority of our mileage is 100% business and so we claim almost 100%.
If I was a sole trader, as the OP suggests he is, then of course he can lease a car on a business lease or a PCP and the accountant can apportion part of the cost and running costs against tax. The 40ppm doesn't really come into it for a self-employed person.
Cars were the main reason why we did not incorporate by remained a partnership.
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