MacDougall & Co
Chartered Tax Advisers

 

New Cars - Clean Cars

100% Tax Relief On Your Next New Car

A business can claim a 100% FYA on the purchase of very 'clean' new cars.

There is no £12000 upper limit to the cost of the car.

The detail:

100% capital allowances are available for:

low emission cars which

- are registered on or after 17 April 2002 and

- emit not more than 120gm/km CO2 - at April 2008 this is now 110gm - or are electrically propelled.

This allowance is expected to continue until 31 March 2008 - at April 2008 this is now extended, probably for another 5 years.

Other items of new plant also qualify for the 100% first year allowanace (FYA). The list is frequently updated. To view it, leave our website and visit the government website www.eca.gov.uk.

Important: the information on this page is based on our understanding of the finance acts and is reliant upon the finance acts passing into law as currently proposed. There may be changes. Please get suitable advice before taking or failing to take any action. Please read our craftily worded disclaimer.



TIMELINE This page prepared on 23 April 2002. Updated on 4 November 2002. Text amended on 16 October 2006. Updated on 2 May 2008.

 
tax faculty logo
Certified CPA loco

Quickbooks logo

Free Agent logo CIOT logo

Contact Us: Telephone 074 03 04 05 06 or 01727 86 86 01    Email or    Skype Us   Privacy Notice  Disclaimer

 
© www.PayLessTax.co.uk Ltd 1999 to date
Website designed by InTouch WebDesign