New Forest

11/06/2019

Some cars only qualify for 6% tax relief now

The latest Finance Act has reduced the tax writing down allowance for motor cars that emit more than 110 grams of CO2 from 8% to just 6% on a reducing balance basis from April 2019. For company cars the vehicle is included in the capital allowance “special rate” pool which means that even when the car is sold the proceeds are deducted from the pool and the 6% allowance continues until the balance is written off. It may be more advantageous to lease such a vehicle, but please check with us first.

For further information on company car tax relief, please contact Gary Brown on 023 8046 1240.

Latest Tweets

The Government has updated its information about the Eat Out to Help Scheme and you can get more help with registration, eligibility and how to offer the discount for the Scheme here:

https://lnkd.in/gR6yEMX

The New VAT Flat Rate Scheme percentages from 15 July until 12 January have been announced, which include:
•Catering 4.5%
•Pubs 1%
•Hotels and accommodation 0%

See: https://lnkd.in/dTnmU7p

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