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Principles of Taxation > Chapter 6 - 2.2.3 - First Year Allowances > Flashcards

Chapter 6 - 2.2.3 - First Year Allowances Flashcards

1
Q

What do FYAs do?

A

Offer tax relief at 100% on certain assets in the year of purchase

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2
Q

What is the limit on the amount of relief?

A

There is no limit

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3
Q

What is the 100% FYA available on?

A
  • New and unused zero-emission cars and goods vehicles
  • Charging points for electric vehicles
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4
Q

What do we never do when calculating FYA?

A

Never time apportion

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Principles of Taxation (165 decks)

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