Tax relief on company vehicles

We asked a tax expert what help you can get to make buying a company car more affordable. Cars are treated as capital assets for tax purposes and tax relief is given in the form of annual capital allowances, rather than a deduction for the cost of the vehicle. This means that the cost of buying the vehicle is not deducted when calculating your profit or loss for the year, but instead a proportion of the cost is given as a deduction each year until the vehicle is sold or the full original cost has been deducted.     Cars with emissions

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