Self Assessment and Bikes

Sorry, I have an exceedingly dull and technical tax question regarding self assessment. Anyone on here able to help before I type it all out and become semi suicidal…

(relates to purchase of motorcycle, not just a tax question)

Probably not, but I’ve got to fill out a self-assessment this year… not sure how a bike would releate to this, unless its a business expense?

24p per mile you are entitled to get your tax back on for a motorcycle…
For purchases over £2000 on a flat rate scheme for a limited company as a company vehicle will get you your VAT back.
If those 2 answers don’t help, then I got no more answers.

Do you use the bike solely or partly for work? Same with all of your PPE (that’s your bike gear :grinning:). Are you a sole trader? Have you included the depreciation? We can all throw loads of advice your way, but it’d make life easier if we knew what your questions are :wink:


Maybe there’s an in house accountant on here?

I bought a bike, used it for freelance work, want to claim the mileage and then sold it. Don’t know how to list these. I got caught up in capital asset, allowable investments, writing down pools and all sorts of madness before giving up and phoning them. Didn’t help.

Spoke to HMRC who gave contradictory advice to their own help leaflet, which also say different things.
According to one part, you can’t claim a vehicle as a capital allowance, unless its a car and there are set rules re. co2. And ‘If you have already claimed capital allowances for a vehicle, you cannot use the mileage rate for it.’ They told me the opposite on the phone.

Looks like it doesn’t matter for motorcycles anyway, you just list them as an allowable expense…

‘If you have capital allowances, an adjustment, known as a balancing charge, may arise when you sell an asset, give it away or stop using it in your business. We add the balancing charge to your taxable profits, or take them off your losses, in the year they occur. If you are using the cash basis, you can only claim capital allowances on cars. The cost of all other equipment and vehicles is an allowable expense in working out your business profits.’

What it doesn’t say, and what they couldn’t tell me is, how do I list the sale? As income, given that I am claiming it as an expense? It would register as a loss anyway as I sold it for less than I paid. I bought another one after, so do I put that in as another expense? My allowable expenses would be pretty high with both…

I’m a sole trader using the cash basis.

I think you’ve just summed up why I was three years late with one if my tax returns :scream:. Total pita unless you have very basic, straightforward income v outgoings.

I’m a sole trader. I claim 45p per business mile in my car, and that is all. My accountant said for the small amount of business miles I’d do, it would not be worth trying to set a car up as a business expenditure.