Depreciation rate

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10 Points Posted on 12 May 2020
when individual case vehicle depreciation rate
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On 12 May 2020 at 13:01 Report
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This discussion clarifies vehicle depreciation rates according to UK Income Tax rules. For most private vehicles not used for hire, the rate is 15%. Vehicles used for hire have a higher rate of 30%. Special, accelerated rates of 30% and 45% apply to vehicles acquired and put to use within specific periods in 2019-2020.

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110 Points Posted on 12 May 2020
Dep rate for vehicle as per IT is 15%
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On 12 May 2020 at 13:52
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Chartered accountant
290 Points Posted on 13 May 2020
Depreciation as per income tax act is applicable for individual category which is @ 15% motor vehicle other than running on hire basis
in the case of vehicle running on hire basis @ 30%
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On 13 May 2020 at 10:35
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Tax and Business Consultant
11616 Points Posted on 24 July 2020
And if acquired on or after the 23rd day of August, 2019 but before the 1st day of April, 2020 and is put to use before the 1st day of April, 2020 than depreciation rate is
@ 30% motor vehicle other than running on hire basis
@ 45% in the case of vehicle running on hire basis
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On 24 July 2020 at 23:40

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