12 Days of Tax Tips – Day 10

Capital allowance for horseboxes

This one is straight from the horses mouth !horses_zkXw9wtd

Following from Day 9 in talking about the annual investment allowance, HMRC have been looking into the capital allowance claims for horseboxes. They are using classified and small ads to look, not only for prices, but also specifications especially those with owners accommodation inside. They would then expect a reduction from cost price for the tax return as there could be an element of personal use.

For all capital equipment purchases (not just horse boxes), you need to reduce down time claim for capital allowance and annual investment allowance by the proportion of personal use. That iPad you brought when you are travelling to keep in contact with emails and presentations which is then given to keep little jimmy quiet in the evening, needs to have a dual benefit assigned. Sorry.


Always talk to your accountant before acting on any advice. If you’d like to talk to us about your accounting requirements, please complete the contact form >>>> HERE <<<< and we’ll get in touch.





About the Author