What happens to tax when I sell my work van?

What happens to tax when I sell my work van? It depends how you claimed the van. If you deducted its price, the sale money is usually taxed in the year you sell, such as 2026-27. If you used the mileage rate, the sale usually adds nothing. Often, yes, if you claimed the van's price as an expense or through capital allowances. The sale money, or part of it, is added to your profit for the tax year you sell. If you used the flat mileage rate, the sale usually adds nothing. Yes. GOV.UK says swapping an asset for something else is a disposal. HMRC's manual says the disposal value cannot be netted off against the cost of the new van, so the two are dealt with separately. An insurance payout counts as a disposal. GOV.UK lists compensation, such as an insurance payout after loss or destruction, as one of the events that has to go into your figures. Read the full answer, with every source, at rightotax.co.uk.