One of the big attractions of the PHEV for me owning my own business is the enhanced capital allowance available on cars below 95g/km allowing one to write off 100% of the cost of the vehicle in the first year, thus greatly reducing your capital gains tax bill.
Having kept an eye on the Chancellor's Autumn statement, there appears to be no legislation in the works that will extend this scheme past its current end date of 31st March 2015.
So, if you do have your own business, I suggest getting your orders in soon to ensure delivery/invoicing before this date to ensure that your purchase qualifies.
Update: It appears this scheme has been extended until 2018 (PDF) which kind of invalidates my whole post :lol:
I've leased cars for many years, but the combination of 5-9-11-13-16% BIK rates for personal use, and the fact I can write off 100% of the purchase cost in year one, made purchasing the PHEV a no brainer.
Cheers
Neil
Having kept an eye on the Chancellor's Autumn statement, there appears to be no legislation in the works that will extend this scheme past its current end date of 31st March 2015.
So, if you do have your own business, I suggest getting your orders in soon to ensure delivery/invoicing before this date to ensure that your purchase qualifies.
Update: It appears this scheme has been extended until 2018 (PDF) which kind of invalidates my whole post :lol:
I've leased cars for many years, but the combination of 5-9-11-13-16% BIK rates for personal use, and the fact I can write off 100% of the purchase cost in year one, made purchasing the PHEV a no brainer.
Cheers
Neil
