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Buying a car as a secondary occupation, sole proprietorship

MH
2024-05-31

Question

I am a personal trainer and give group lessons, my small car is completely stuffed with equipment.

Now I want to buy a van, but i don’t know how to claim it as an expense.
Is this even possible as a side business? Or do I have to be in my main occupation?
Would it be best to buy the car on hire purchase?

Does anyone have experience with this?

It will probably be light goods transport. That is to far fewer tax rules than usual. You can find more information here: https://financien.belgium.be/nl/private person/vervoer/inschrijving_en_taxes/lichte_vrachtauto#q2

You will have to record this, of course, as an investment and depreciate it over several years in your accounts. Probably 5 years. You can read more about investment in this article from Dexxter: https://dexxter.be/hoe-calculate-je-de-depreciation-een-cijfervoorbeeld/

How you calculate the payments is not really important for the accounts of your sole proprietor.

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You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.

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