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Why choose HGH?

Low Emission Car – Capital Allowances

Posted: 25th Mar 2014 by Robert Salenius Taxation

Have you considered a low emission car?

For capital allowances purposes it is possible to receive a 100% deduction from profits when you choose a car with CO2 emissions below 95g/km or less.

This first year allowance is available for vehicles purchased before 31st March 2015 which means that the full cost of the vehicle is allowable as a deduction in the form of an allowance against profits. If those profits were chargeable at the small companies rate (or basic rate for unincorporated businesses) of 20% a low emissions vehicle costing £15,000 would secure a tax saving of £3,000 !

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