A client is looking to purchase a Tesla. Fully electric so available for FYA as it will be new.
It's going to be acquired under a PCP arrangement. There have recently been some changes surrounding the way these deals are viewed for VAT purposes. My question is whether this impacts the capital allowance situation.
It's my understanding that previously PCP was treated as HP with CA's available.
If this deal is still classed as PCP (so no VAT charged on the monthly payments) would that indicate the asset should be capitalised and CA's claime?