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Electric Cars & Accelerated Capital Allowance

  • 05-04-2019 09:18PM
    #1
    Blue Badger
    Registered Users, Registered Users 2 Posts: 165 ✭✭


    Hi Guys,

    First off I want to apologies for being a spanner when it comes to taxation. I'm fairly new to contracting and cannot get my head around this ACA / Wear & Tear allowance.

    My understanding is that the wear & tear allowance allows you to claim 12.5% cost of car back each year for 8 years total?

    But the ACA allows you to claim 100% back within the first year? Or is this 12 month period from start?

    Is that really all the difference is or am I missing something stupidly simple here?

    If I wanted to get a hybrid car via the ACA could I legitimately claim back 100% cost within the first 12 months via tax rebate?

    The wording on this on the Seai website is confusing me and I couldn't find examples of the allowance in action.

    Thanks for any responses and again apologies!

    Happy Friday everyone!


Comments

  • #2
    Blue Badger
    Registered Users, Registered Users 2 Posts: 165 ✭✭Blue Badger


    Claiming back within one 12 month period up to the 24,000 euro cap I mean! Cheers :)


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