The start point for the best source of fleet information |
Budget 2013: First year writing down allowances extended
Date: 20 March 2013 | Author: Jack Carfrae
The Government has announced that first year writing down allowances will be extended until 2018 in today's Budget.
As of April 2013, the 100% writing down allowance for cars bought outright will apply to vehicles emitting 95g/km or less.
This will change to vehicles emitting 75g/km or less from April 2015 and will remain in place until 2018.
This legislation will be reviewed in the 2016 Budget, with any changes taking effect in the 2018/19 tax year.
The Government also said it plans to review main capital allowances legislation in the 2016 Budget, with any changes also taking effect in 2018.
The removal of the writing down allowance for leased business cars from April 2013 was also confirmed, despite strong lobbying from the BVRLA to reinstate it.
