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HM Revenue and Customs Brief 71/09


HM Revenue and Customs -Tax Authorities

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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Modernising tax relief for business expenditure on cars: draft guidance on legislation introduced by FA 2009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 purposes).

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 The draft guidance is being published with this brief for comment.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 February 2010.

CA20006 - PMAs: Introduction: Outline (PDF 112K)
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Crown Copyright 2009.

A licence is need to reproduce this article and has been republished for educational / informational purposes only. Article reproduced by permission of HM Revenue & Customs under the terms of a Click-Use Licence. Tax briefs are updated regularly and may be out of date at time of reading.

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Article Published/Sorted/Amended on Scopulus 2009-12-10 12:56:58 in Tax Articles

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