With unique insight into providing bespoke financing for the truck, plant and commercial vehicle industry, our inhouse finance company offers you personalised customer service and help finding the best rates and deals to match your business’s needs.
Our flexible, focused and driven approach to making sure that each customer receives a top class personal service are key to the values and success of MV Finance to date.
The New Capital Allowance
From the 1st April 2023, businesses will be able to benefit from the full expensing scheme as a result of measures announced in the Spring 2023 Budget.
To encourage companies to make additional investments, the government introduced the super-deduction in 2021. This was the biggest two-year tax cut in modern British history.
This incentive also encouraged businesses to bring planned investment forward whilst the UK recovered from the Covid-19 pandemic.
The introduction of Full Expensing builds on the success of super-deduction by rewarding businesses that invest and create the right conditions to sustain economic growth.
Other Capital Allowance Incentives
If the full expensing scheme isn’t ideal for your business or your assets don’t qualify, not to worry. There are still other Capital Allowance options to consider:
Annual Investment Allowance (AIA)
The Annual Investment Allowance provides 100% first-year relief for plant and machinery investments up to £1 million.
This is available for all businesses (including unincorporated businesses) and the majority of partnerships. Expenditure on second-hand as-sets and those bought to lease to someone else can still qualify for Annual Investment Allowance.
50% First Year Allowance (FYA)
The 50% first-year allowance (FYA) for expenditure by companies on new special rate longer life assets until 31 March 2026.
This includes assets with integral features such as lifts, solar panels, air-con and heating.
It also covers fixture assets such as fitted kitchens, bathrooms and fire alarm & CCTV systems.
Get in touch with our friendly team to work out your finance options:
Brownsburn Industrial Estate,
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