Commentary

B3.324A Expenditure on cars with low carbon dioxide emissions—first-year qualifying expenditure

Business tax
Business tax | Commentary

B3.324A Expenditure on cars with low carbon dioxide emissions—first-year qualifying expenditure

Business tax | Commentary

B3.324A Expenditure on cars with low carbon dioxide emissions—first-year qualifying expenditure

For the latest New Development, see ND.1862.

Expenditure on electric cars and cars with low carbon dioxide emissions will qualify for a 100% first-year allowance, provided:

  1.  

    •     it is incurred before 1 April 2025

  2.  

    •     the car is unused, not second-hand, and is first registered on or after 17 April 2002; and

  3.  

    •     the asset is not precluded from qualifying for first-year allowances by the general exclusions (other than general exclusion 2, which does not apply, see B3.325)1

A low CO2 emissions car is one which has a qualifying emissions certificate,

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial