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The vehicle scrappage or discount scheme
is a voluntary scheme for motor dealers.
Participating dealers will give buyers a
£2,000 discount off the purchase price of
a new car or small van in exchange for
scrapping their old qualifying vehicle
which must, amongst other criteria, be
registered on or before 31 August 1999.
The scheme is expected to run from mid
May 2009 to March 2010, unless funds are
exhausted before then. For general
information on the £2,000 scrappage
discounts and the qualifying conditions
for vehicles visit the Directgov link
below.
HMRC have published their view on the
tax implications of the car and van
scrappage scheme. The guidance covers the
business tax and VAT implications of the
scheme.
If you have any queries on the tax
implications of the scheme please do get
in touch.
Internet links:
Directgov website
HMRC Brief |
