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Cars & vehicles Depreciation (Companies Act)
Cars & vehicles are 8-year useful life (Schedule II). Enter your cost to see the full schedule.
Cars & vehicles Depreciation (Companies Act)
Year 1 depreciation8 years · book value after year 1: 8,812.50
Total depreciation shown
9,500.00
Final book value
500.00
| Year | Opening value | Depreciation | Closing value | Rate % |
|---|---|---|---|---|
| 1 | 10,000.00 | 1,187.50 | 8,812.50 | 11.88 |
| 2 | 8,812.50 | 1,187.50 | 7,625.00 | 11.88 |
| 3 | 7,625.00 | 1,187.50 | 6,437.50 | 11.88 |
| 4 | 6,437.50 | 1,187.50 | 5,250.00 | 11.88 |
| 5 | 5,250.00 | 1,187.50 | 4,062.50 | 11.88 |
| 6 | 4,062.50 | 1,187.50 | 2,875.00 | 11.88 |
| 7 | 2,875.00 | 1,187.50 | 1,687.50 | 11.88 |
| 8 | 1,687.50 | 1,187.50 | 500.00 | 11.88 |
Companies Act 2013 Schedule II useful lives (e.g. computers 3 years, servers 6, furniture 10, vehicles 8, plant 15); residual value is normally up to 5% of cost.
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