HM Revenue and Customs Brief 71/09
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Issued 9 December 2009
Modernising tax relief for business expenditure on cars: draft guidance on
legislation introduced by FA 2009
This Revenue & Customs Brief is of interest to all businesses that buy or
lease cars or that sell or lease cars to other businesses.
Following consultation, at Budget 2009 the Government announced that the
rules for capital allowances for cars and the associated rules restricting
deductions for lease rentals were to be abolished and replaced by new rules from
1 April 2009 (for Corporation Tax purposes) or 6 April 2009 (for Income Tax
The Capital Allowances Manual and Business Income Manual are to be updated to
reflect the new rules and the transitional arrangements. The draft guidance is
being published with this brief for comment.
If you have any comments about this guidance, please contact Annie Carney or
Sue Pennicott on 020 7147 2610 (email: Annie Carney or Sue Pennicott) before 12
PMAs: Introduction: Outline (PDF 112K)
Specific deductions: travel & subsistence: contents (PDF 79K)
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Article Published/Sorted/Amended on Scopulus 2009-12-10 12:56:58 in Tax Articles