Why the year end is a great time to find new fleet vans
For many businesses, March is the final month of the business and tax year. If your business is looking at making a profit then this month presents the ideal opportunity to bring in a new van or vans.
Why now is a good time to purchase vans for your business?
The main reason for this is that vans are classified as plant and machinery for tax purposes.
Because of this, they qualify for 100% allowances under the Annual Investment Allowance regime.
This means that 100% of the cost of the van can be used to reduce your company’s taxable profits – reducing the amount of tax you will pay.
Time is of the essence
Whilst it makes sense to acquire new vehicles before the year end, it is important you act now at the beginning of the month.
The fact is, that due to Covid and Brexit, the supply chains for most manufacturers has been severely disjointed. This has lead to low levels of vehicles being built and thus stock is very low.
This means that finding the right vehicle and getting the deal over the line isn’t something you can afford to leave until the last minute.
Think about the vehicles you need
We’ve recently talked about various incentives to switch to electric vans – with “plug-in van grants” available. It could be the right time to look into this.
But again, as with the last point – if switching to an electric van is of interest, the more time you can give to find the right deal – the better it will be for you.
If you would like more details in regards to this – or to find out what deals and stock vehicles are available within this timeframe then please feel free to drop me a line.