Why there's a tax benefit to you investing in a new van in 2014
Sandicliffe are encouraging businesses in the East Midlands to invest in new vans and vehicles before a temporary tax-saving measure is withdrawn.
February 24, 2014
This weekend at Sandicliffe, we\'re encouraging businesses in the East Midlands to invest in new vans and vehicles before a temporary tax-saving measure is withdrawn. On Saturday and Sunday we\'re holding a Tax Year End Event in Nottingham and Leicester with the aim of helping businesses to take advantage of an increased tax allowance by investing in their commercial fleet. The Annual investment Allowance (AiA) offers a 100% tax allowance on certain capital expenditures (such as vans) in the year of purchase. The government increased the AiA from £25,000 to £250,000 in 2013 as a temporary measure to stimulate the economy. Designed to help small businesses pursue capital investments with a significantly reduced financial exposure, our event will explain how local companies can take advantage of this increased allowance while it remains available. David Haynes, Commercial Vehicle Sales Manager at Sandicliffe, the new and used vans experts, said: "The current rules are a temporary measure and, as it stands, are only in place until the end of 2014. So, we\'re encouraging you to make the most of this increased tax allowance by reviewing your commercial vehicle requirements and investing in new vans while there is a tax incentive to do so." You do not have to have paid in full for the van to claim the AiA as the tax allowance can be claimed when there is a hire purchase (HP) arrangement in place with intent of ownership. There is also tax relief for HP interest charged to your company\'s profit and loss account. Mr Haynes, the Ford van specialist, added: "Under the AiA, the first £250,000 of expenditure is 100% allowable - effectively as a deduction in calculating the taxable profits of a business. Before the government raised the allowance as a short-term measure the AiA was just £25,000. So, we\'re urging businesses who are considering investing in a new van or a new fleet of commercial vehicles to do so while the tax allowance is at its higher level. "We\'re holding our Tax Year End event this weekend in both Nottingham and Leicester and will be providing information and advice on the Annual investment Allowance. If you\'re looking to invest in a commercial vehicle in 2014 I\'d encourage you to come along and find out more." For more information about the Ford commercial range and the tax advantages of buying now, call Sandicliffe on 0800 988 7000 or visit the dealerships on Nottingham Road, Stapleford or Welford Road, Leicester.