<b>Budget 2006:</b> Modernising company cars. By Nichola Ross Martin

Kashflow logo
Share this content

The government is to consult on a radical change in the tax treatment of 'expensive cars', red tape and environmental considerations.

The Government has been considering a range of options for modernising the current restrictions on relief for expenditure on business cars which would both address the concerns raised by business and ensure consistency with the government's wider objectives on the public finances and the environment.

A Partial Regulatory Impact Assessment published with the 2006 Budget suggests that modernisation can be best achieved by introducing a new car pool for all cars with a writing down allowance of less then 25%, and a range of first year allowances for cars depending on CO2 emissions. The Government is also willing to revisit the case for abolishing or modifying the...

Please Login or Register to read the full article

The full article is available to registered AccountingWEB.co.uk members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.

About AccountingWEB


Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.