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PRE-BUDGET REPORT '08: Capital allowance details confirmed

Date: 24 November 2008

Changes to fleet's capital allowance payments will take effect from 1 April 2009 and not be backdated until a car is more than five years old, according to the BVRLA.

Although today's Pre-Budget Report itself only declared that a "technical note and draft legislation will be published shortly" regarding the new rules commencing on 1 April, trade association BVRLA has confirmed that cars acquired before 1 April 2009 will continue to be treated under the old rules for up to five years.

While the details are yet to be officially clarified, that could create an interesting market in early 2009, with companies potentially making savings on vehicles 161g/km and above if acquired before 1 April, and on sub-161g/km vehicles on the books from 1 April 2009.