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I am sorry if this a silly question, but I am a bit confused here.
Is the deduction of the fuel expenses for business only available under the cash basis, not the accruals? I am asking because I have done one of the BPP questions and that was a case.
thank you
On the accruals basis the trader may claim for the business proportion of ALL motor expanses incurred as seen in example 1 of chapter 4 and would claim capital allowances for the cost of the car itself.
In the cash basis the trader may instead choose to use the fixed / flat rate scheme to achieve tax relief for both the revenue and the capital motor expenses as shown in chapter 6 page 41 of the study notes
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