The CBI has called on the Chancellor to extend full expensing to leased and rented assets in next month’s Spring Budget. This mirrors one of the BVRLA’s key asks on behalf of members and represents a priority area for the association.
Shown in the CBI’s 2024 Spring Budget submission, extending full expensing would encourage more businesses across multiple sectors to invest. Full expensing was introduced last year and enables companies to write off the full cost of their investments against their corporation tax bill in the first year. The rental and leasing sectors are excluded from claiming the powerful investment allowances.
Through work by the BVRLA and other trade associations, the Government is working with the vehicle rental and leasing sectors to try to deliver a more supportive capital allowances regime that will benefit all fleets.
The association continues to be an active voice on this topic. Work is ongoing to see the exclusion removed or a supportive inclusion introduced.
