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Annual Investment Allowance for Commercial Vehicle

  • 46 posts
  • # 86008

Hi


I am reading conflicting information as to whether or not you can use your annual investment allowance on commercial vehicles. The ICB study material says you can but other internet sources say not. Can anyone help?

Thanks   

  • 1159 posts
  • # 86009

Yes you can, commercial vehicles are plant and machinery.

Kris 

  • 69 posts
  • # 86011

Hi Lorraine,

I believe that commercial vehicles, e.g. vans and lorries, qualify for AIA. 

HS252 Capital allowances and balancing charges http://www.hmrc.gov.uk/helpsheets/hs252.pdf provides some examples of AIA claims for vans. 

This blog http://blog.taxassist.co.uk/tax-blog/2010/8/9/capital-allowances-on-a-new-van.html may also be useful.

Hope this helps.
 

  • 69 posts
  • # 86012

And another very useful reply from BKNShamus:

>>>

AIA is never available of cars

100% FYA is available on new low emmission cars

Vans are commercial vehicles so come under plant and machinery which is allowable for AIA purposes.

What is a van and what is a car is not always clear when it comes to cars pretending to be vans. For a non exhaustive list see here :

http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageLibrary_PublicNoticesAndInfoSheets&id=HMCE_PROD_010443&propertyType=document

(some quite surprising vans on that list)

and for general guidance see here :

http://www.hmrc.gov.uk/vat/sectors/motors/what-is-car.htm

Right, off back to my site where anyone can answer anything for anybody who needs help. Bye.

Kind regards,

Shaun.

______________________
Answers given are for outline only and formal advice should be sought from a suitably qualified Accountant. 

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