You may de-pool
Page 5
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DE-POOLING of short-life assets, the capital allowance concession introduced in this year's Budget, will be available to haulage operators.
The concession — first highlighted to the industry in CM's Budget report in March — becomes effective from April 1 next year, and permits an operator to offset the shortfall if a lorry is sold within five years for less than its written down value or if it is scrapped within that period.
The Treasury confirmed this week that de-pooling (CM, April 13) applies to lorries, but not to television rental or to major investments like ships.
Another Budget change, published in the Finance Bill, will give operators less cause for cheer. It is a proposal to charge interest on underpaid or overreclaimed value added tax.
A starting date for this measure has still to be fixed, and the interest rate will vary according to movements in the money market.