Taxis - are they plant and equipment?

Taxis - are they plant and equipment?

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I have recently started acting for a client who is a London cabby. He has a proper Metro Cab taxi - Question is, are CA limited to the £3000 until the WDV is reduced to < £12k (for years < 6 April 2008) or can we claim full allowances of 25% with a FYA when the thing was purchased.

robert woolley

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By User deleted
21st Jul 2008 23:42

not a car
t a taxi is not a car. nor is it a hire vehicle that is something like hertz. Capital allowances are not restricted.
Be careful about Plate, a plate is Capital and normally appreciates.

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By User deleted
21st Jul 2008 14:37

I would consider it to be a qualifying hire car...
...to which the cars legislation does not apply.

Source

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