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100% First Year Allowance for Business Cars

Ten Facts You Might Not Know About Stamp Duty

The 100% first year allowance enables businesses purchasing low emission cars to claim the full cost of the vehicle as a tax deductible ‘expense’ in the year of purchase.

The allowance has been available for several years, but is being extended for a further period, to April 2021.

Currently, to qualify for the 100% allowance, a car must either be electric, or have CO2 emissions of 75g/km or less.

From April 2018, the threshold for eligibility will be reduced to 50g/km.

 Please see here for further details regarding the tax benefits of ultra low emission vehicles, or consult your accountant or financial advisor.