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The new capital allowances rules cause particular problems for motorcars. MIKE TRUMAN looks at the problems and possible solutions
KEY POINTS
- Distinction between low medium and high-emissions cars.
- New rules result in ever-increasing pools.
- No leasing disallowance except for high-emissions cars.
- Using separate companies to claim balancing allowances.
The new provisions for capital allowances on cars were the subject of considerable consultation and debate.
We have known about them for so long that their introduction from 1 April 2009 for companies and 6 April 2009 for individuals and partnerships has attracted little comment.
However they will have a dramatic effect on the relief that can be claimed leading to a build-up of allowances in pools.
Starting from zero
The new rules are implemented by FA 2009 Sch 11 but they take effect by amending CAA 2001 to which all references below relate unless otherwise...
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