First Year Allowances - Cars with Low Carbon Dioxide Emissions
3rd March 2008
Categories: Funding - North East
First Year Allowances - Cars with Low Carbon Dioxide Emissions
Description
This scheme encourages businesses to purchase vehicles with low carbon emissions. 100% of costs can be set off as first year allowances for tax purposes.
Eligibility
The car must be new, primarily for use as a passenger vehicle (not goods) and must either produce less than 120 gm per kilometer of CO2 or be an electric car.
Contact
HM Revenue and Customs
t: 020 7147 2541
w: http://www.hmrc.gov.uk/capital_allowances/cars.htm
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