Taxis - capital allowances
micklynch
Registered Posts: 15 New contributor 🐸
Just wondering whether a taxi driver can claim the new Annual Investment Allowance on new vehicles or whether they are still subject to the new 20% (£3,000 max) restriction? Cheers guys.
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Just wondering whether a taxi driver can claim the new Annual Investment Allowance on new vehicles or whether they are still subject to the new 20% (£3,000 max) restriction? Cheers guys.
My understanding is that if it is a "purpose built" taxi, i.e. a London cab or a mini bus then you can claim the AIA, there is no duality of use. If it is a car used for taxiing, then there is duality of use and therefore the restriction stands.
I have used this for a client who bought a custom built minibus.
This is my understanding but one of my more experienced collegues may have a diferent interpretation.
Kind regards
Peter0 -
The rules on expensive cars are changing from next year and the WDA will be based on CO2 emissions instead. More importantly there will be no balancing allowance on sale - they will remain there until totally written off, which apparently is about 23.something years!!!!!! No nice balancing allowances any more.
Claudia0
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