Drive Your Business Forward This Year End

As the financial year draws to a close, as a business you may be looking to reduce your tax liability, which for many will consist of maximising your Annual Investment Allowance (AIA).

The AIA, also known as Capital Allowance, enables a business whether a sole trader, partnership or limited company, to deduct the full value of qualifying assets up to £1million from their profits before tax. Importantly, unlike cars, commercial vehicles are included in the scope of such qualifying assets. This means March is a great time to buy a commercial vehicle, not only in order to reduce your tax liability, but also to invest in the future of your business whether this be through replacing an existing vehicle or by growing your fleet.

At Westbourne Professional, we stock a wide range of commercial vehicles from small vans all the way to large vans, dropsides, tippers and more, and are also able to source vehicles to specific requirements thanks to our network of suppliers. We can also assist with the funding of your new commercial vehicle, thanks to our trusted finance partners consisting of both lenders and brokers, meaning we can secure the best financing package for your needs.

In our previous blog, we explored the change in taxation of 4x4 pick-up trucks, which from next month will no longer be classed as commercial vehicles in the eyes of HMRC and therefore will no longer be eligible for the AIA. Crucially however, this does not affect vehicles purchased before 6th April, and so if you are a business in the market for a 4x4 pick-up, March is the month to make the purchase as the existing AIA and Benefit-in-Kind benefits will continue through to disposal of the vehicle or 2029, which ever comes first. 

If you are in the market for a commercial vehicle, and would like to discuss a vehicle in stock or our sourcing service, please get in touch with a member of our experienced team today on 0114 275 4517.