Fuel efficient cars

nomunnofun

Just a quick question. I am reasonably sure that I am not missing something but the capital allowance regime appears to have gone through many changes since I ceased practice about four years ago! It used to be so simple!

Client buys fuel efficient car below 111g/km cO2 emissions before 31st March this year, He can claim 100% FYA?

Car cost £30000, he claims 18000 (40% private use) . When he sells he has a horrific balancing charge.

Nothing else lurking in the small print that I have missed or should be aware of?

nomunnofun

At the risk of being rude for bumping - Anybody any thoughts on this?

jimmo

I didn’t respond to your first post as I have been away from the coalface longer than you.

However, as nobody else has, I think you have got it right.

A claim for 100% FYA can be made.

http://www.hmrc.gov.uk/manuals/camanual/CA23153.htm

What you and I knew as balancing allowances and balancing charges now seem to be known as balancing adjustments but the principles seem to be the same.

http://www.hmrc.gov.uk/manuals/camanual/CA23240.htm