Hello, in January 2022, I purchased a light goods vehicle that I registered as 70% business use and depreciated over 3 years. I would like to sell it, but it is still in its third year of depreciation. I have already read about the 3 dots on the right-hand side of the car under the ‘depreciations’ tab. However, when I choose ‘sale’, it appears as if I am simply creating a new invoice. What happens behind the scenes? Is the income from this considered profit?
Should I enter 70% of the actual sale price as the sale value on the invoice, or just what I still want for it, and will 70% of that be considered automatic professional income?
Thanks in advance!