Haulage Tax Relief
8th October 2015Love the Lorry: National lorry week (26-31 October).
The Road Haulage Association is calling on all members all over the country to get involved with its national week-long awareness campaign to educate the British public about trucks and is inviting hauliers to sign up.
The savvy haulier will be aware of recent changes to the tax relief (capital allowances) available on trucks purchased after 1 January 2016. From this date the maximum amount of capital expenditure attracting a 100% tax deduction in the year of purchase reduces from £500,000 to £200,000 (known as Annual Investment Relief). As always, there are some complicated transitional rules for businesses where the year-end is not 31 December 2015. If you are looking to replace some of your fleet soon, some careful planning by you and your tax advisor will ensure you receive the tax relief as early as possible.
Disclaimer - All information in this post was correct at time of writing.
