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Home / Simons-Taxes /Business tax /Part B3 Capital allowances /Division B3.3 Plant and machinery /Expenditure qualifying for first-year allowances / B3.324A Expenditure on cars with low carbon dioxide emissions—first-year qualifying expenditure
Commentary

B3.324A Expenditure on cars with low carbon dioxide emissions—first-year qualifying expenditure


Business tax

Expenditure on electric cars and cars with low carbon dioxide emissions will qualify for a 100% first-year allowance, provided:

  1. Ìý

    •ÌýÌýÌýÌý it is incurred before 1 April 2026 for corporation tax purposes and 5 April 2026 for income tax purposes

  2. Ìý

    •ÌýÌýÌýÌý the car is unused, not second-hand, and is first registered on or after 17 April 2002, and

  3. Ìý

    •ÌýÌýÌýÌý the asset is not precluded from qualifying for first-year allowances by the general exclusions (other than general exclusion 2, which

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Web page updated on 17 Mar 2025 17:39