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Car Insurance Business
Sara Said:
I use my car only for business. Can I deduct the insurance and cost of buying the car from my income?We Answered:
Yes you can put these costs through your business on the expenses side. However, I don't think that HMRC accept 100% on business use these days so they or your accountant will apportion a % to personal usewhen your end of year accounts are compiled and your liability for income tax is determined..