Fixed Assets & Mileage Allowance

[Bill Hilton]

Can anyone help me please?

I am in the situation where my Vehicle expenditure is shown as lower than my Mileage Allowance so the spread sheet has switched to Mileage allowance as the best tax option. However this shows me making more net profit than before the switch occurred. This seems strange to me.
The calculation in cell B10 of the Profit & Loss Acc page is as follows:-
If ((C1=Mileage Allowance), 0, (Fixed Assets I1+Fixed Assets J1+Fixed Assets P1+Fixed Assets Q1))
When I look at the workings for Fixed Assets I1 & J1; Cells I26 to I30, and Cells J36 to J43 all have a zero & no calculation in the cells. Can this be correct?
I understand that vehicle costs such as servicing, tyres & diesel all should disappear but Capital Allowance disappears as well. The effect is that no Capital allowance is added to my costs when the spread sheet has switched to the most efficient tax option of Mileage Allowance. This in turn means I will have to declare more net profit & pay more tax at the year end. It seems counterintuitive.
Sincerely
Bill Hilton

[antonycc]

Hello,

Fixed Assets > I1 & J1 should contain =I33+I62 and =J33+J62 respectively.

Fixed Assets > I26 to I30 should be 0 as the Annual Investment Allowance isn't applicable to existing vehicles.

Fixed Assets > J36 to J43 should be 0 as the annual investment allowance is applicable to commercial vehicles, there should be values in I36 through I43 for this. As I understand it a commercial vehicle is based on HMRC's decision on the vehicle not the usage so a Hackney Carriage or limo would be fine but an estate with a sign on top would still be a car.

If I1 & J1 are blank this would prevent the calculated values from propagating through.

Thanks,

Antony.